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JPMorgan reports 27% revenue growth and 47% earnings rise in Q2
The bank posted ROTCE of 23% in Q2, its highest in nearly five years, as revenue reached $58 billion.
JPMorgan Chase delivered a strong second quarter, with revenue rising 27% year over year to $58 billion and earnings increasing 47% to $7.70 per share, according to Yahoo Finance.
On profitability, JPMorgan reported an “off-the-charts” return on tangible common equity, excluding special items, of 23% in Q2. The article notes that a ROTCE above 15% is generally considered excellent, and JPMorgan’s Q2 figure was its highest in almost five years.
For context, the piece compares other large U.S. banks’ ROTCE in the same period, citing 17% for Bank of America and 17.7% for Wells Fargo. It also says JPMorgan has targeted 17% ROTCE over the long term and has exceeded that goal each quarter dating back to at least Q4 2023.
In remarks to analysts on the earnings call, JPMorgan CEO Jamie Dimon said performance was “getting close to as good as it gets,” while also warning that the environment may not last forever and that growth could slow in 2027 or 2028, according to Yahoo Finance.