JPMorgan Posts $16.9 Billion Q2 Profit as Iran War Volatility Lifts Trading 86%
Updated
Updated · WRAL News · Jul 14
JPMorgan Posts $16.9 Billion Q2 Profit as Iran War Volatility Lifts Trading 86%
3 articles · Updated · WRAL News · Jul 14
Summary
$16.9 billion in second-quarter profit gave JPMorgan $6.14 a share, beating analyst estimates of $5.59 as managed revenue reached $58 billion.
Equities trading drove the outperformance: revenue in JPMorgan's equity markets unit surged 86%, while overall markets revenue rose 35% amid swings tied to the Iran war.
Investment banking added momentum, with revenue up 30% to its highest level since 2021 as IPO and M&A demand stayed strong.
Wells Fargo also topped forecasts with $6.4 billion in profit and 24% markets-revenue growth, suggesting trading and dealmaking strength extended across major U.S. banks.
Despite the strong results, JPMorgan shares fell 2.4% premarket, showing investors had already priced in much of Wall Street's trading windfall.