JPMorgan Chase (JPM) has reported fourth-quarter financial results that beat Wall Street estimates on both the top and bottom lines.
For the final quarter of 2024, the world’s largest commercial bank announced earnings per share (EPS) of $4.81 U.S., which was well ahead of the $4.11 U.S. expected among analysts.
Revenue in the October through December period totaled $43.74 billion U.S., which exceeded forecasts that called for $41.73 billion U.S.
JPMorgan’s results are often viewed as a bellwether for the American financial system and Wall Street.
Management attributed the strong results to a robust stock market and resumption of dealmaking that includes mergers and acquisitions (M&A) and initial public offerings (IPOs).
Specifically, JPMorgan said a strong economy and interest rate cuts in the latter half of 2024 boosted its stock sales and bond offerings.
Revenue in JPMorgan's investment banking unit rose 46% year-over-year in the fourth quarter to $2.6 billion U.S. Trading revenue increased more than 10% from a year ago.
Despite the strong quarterly results, JPMorgan Chase chief executive officer (CEO) Jamie Dimon cited several potential risks for the year ahead, including government spending, inflation, and geopolitics.
The stock of JPMorgan Chase is up 2% in premarket trading on news of the bank’s Q4 2024 results. The share price has risen 47% over the last 12 months to trade at $247.47 U.S. a share.
