JPMorgan Chase (JPM) earnings Q2 2025

JPMorgan Chase is scheduled to report second-quarter earnings before the opening bell Tuesday.

Here’s what Wall Street expects:

• Earnings: $4.48 a share, according to LSEG
• Revenue: $44.16 billion, according to LSEG
• Net interest income: $23.6 billion, according to StreetAccount
• Trading revenue: Fixed income of $5.2 billion, equities of $3.2 billion, according to StreetAccount

JPMorgan Chase will give investors a view into how U.S. consumers and corporations fared in the second quarter.

If the first quarter was any indication, the nation’s largest banks are likely to have benefited from robust trading revenue in the period, thanks to volatility caused by President Donald Trump’s trade policies.  

While markets tanked in April after Trump unveiled a sweeping set of tariffs, the sharp recovery that followed means that investment banking revenue may also show signs of recovery later in the quarter, according to Matt Stucky, chief portfolio manager of equities at Northwestern Mutual’s wealth management arm.

High asset levels also bode well for the wealth management divisions of banks including JPMorgan, Goldman Sachs and Morgan Stanley.

While the Wall Street side of these firms has been providing outsized returns lately, the Main Street lending arms haven’t yet hit severe concerns around credit losses, buoyed by better-than-expected U.S. employment levels.

All those factors, along with expectations around industry deregulation, have boosted bank shares last quarter. The S&P 500 Banks Index jumped 14.4% in the period, outperforming other financials and the broader large-company index.

Citigroup and Wells Fargo are also scheduled to report quarterly results Tuesday, with Goldman Sachs, Bank of America and Morgan Stanley releasing results Wednesday.

This story is developing. Please check back for updates.