The banking giant posts $15.3 billion in quarterly earnings as strong lending income and resilient consumer spending offset weaker trading momentum.
JPMorgan Chase (JPM) reported a 6% increase in third-quarter profits to $15.3 billion, or $5.57 per share, falling short of analysts’ expectations of $5.90 per share. Revenue climbed 8% year over year to $50.2 billion, supported by strong lending activity and consumer spending.
Trading revenue increased 15% annually to $10.3 billion, while investment banking fees rose 14%. However, both divisions experienced sequential declines following a particularly strong second quarter.
Net interest income jumped 13% to $27 billion, prompting JPMorgan to raise its full-year guidance to $97.5 billion, excluding markets-related revenue. The bank also projected $107 billion in net interest income for 2027.
Consumer credit trends remained encouraging, with average credit card loans increasing 7% and charge-off rates declining to 2.91% from 3.15% a year earlier.
Despite these positive indicators, CEO Jamie Dimon cautioned that persistent inflation, elevated interest rates, fiscal deficits, and geopolitical uncertainty continue to pose economic risks.
JPMorgan shares edged higher following the announcement, reflecting investor confidence in the bank’s diversified operations despite earnings falling below Wall Street expectations.
