JPMorgan Chase announced a net income increase of 9% to $14.6 billion for the first quarter, surpassing Wall Street's expectations for both profit and revenue. The New York-based bank's strong performance was tempered by cautionary remarks from its CEO regarding global economic uncertainties linked to ongoing trade disputes and geopolitical events.
CEO Jamie Dimon attributed the robust quarter to the strong performance of the bank's markets division.
The bank's earnings per share (EPS) climbed to $5.07, up from $4.44 in the prior year, exceeding analysts' estimates of $4.63 per share, according to FactSet data. Total managed revenue reached $46 billion, a notable increase from the $41.9 billion recorded a year earlier and above Wall Street forecasts of $44 billion.
Fluctuations in financial markets, triggered by tariff increases affecting U.S. trading partners, have created uncertainty about the global economic trajectory. Such instability poses challenges for banks, which rely on stable economic conditions and healthy borrowing activity from consumers and businesses.
Following the earnings release, JPMorgan shares experienced a 3.1% increase in premarket trading.