JPMorgan Chase reported better-than-expected first-quarter outcomes on Friday. Whereas CEO Jamie Dimon acknowledged that the financial institution’s monetary outcomes have been “robust,” he additionally warned that the financial institution was making ready for “turbulence” within the U.S. financial system.
JPMorgan’s first-quarter 2025 revenue was $46.01 billion, increased than analyst expectations of $44.11 billion and an 8% yearly improve. The financial institution additionally acknowledged that first-quarter revenue elevated by about 9% year-over-year to $14.64 billion.
Dimon, 69, wrote in an earnings release that JPMorgan added 500,000 new checking accounts within the quarter and noticed income within the markets division rise to $9.7 billion, marking “an exceptionally robust quarter.”
Nevertheless, Dimon cautioned that unsure financial situations have been forward. He stated that potential deregulation, tax cuts, inflation, excessive fiscal deficits, and tariffs may have an effect on the financial system and that JPMorgan is making ready for as many outcomes as potential.
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“The financial system is going through appreciable turbulence (together with geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘commerce wars,’ ongoing sticky inflation, excessive fiscal deficits and nonetheless fairly excessive asset costs and volatility,” he wrote within the earnings launch. “As at all times, we hope for one of the best however put together the Agency for a variety of eventualities.”‘
JPMorgan CEO Jamie Dimon. Photograph by Noam Galai/Getty Pictures
A few of the financial points Dimon listed have seen new updates this week. On tax reform, a invoice supported by President Donald Trump that seeks to reduce taxes by approximately $5 trillion handed the U.S. Home of Representatives on Thursday. Trump has additionally promoted deregulation, signing an executive order on Wednesday asking federal company heads to compile a listing of anti-competitive laws to remove.
On tariffs, Trump levied duties of 145% on China this week. The transfer sparked a tit-for-tat trade war and retaliation from China, which raised tariffs on the U.S. to 125% on Friday.
“It’s very affordable to say we wish to make commerce higher,” Dimon informed Fox Enterprise earlier this week when requested what he thought of tariffs. “However I additionally wish to say to the People, we’ve got one of the best financial system on this planet.”
Dimon pointed to the scale of the U.S. GDP. In keeping with World Financial institution knowledge, the U.S. GDP was $27.72 trillion in 2023, increased than China’s GDP of $17.79 trillion in the identical 12 months.
JPMorgan is the most important financial institution within the U.S. with complete belongings of about $3.5 trillion.
