JPMorgan Chase (NYSE: JPM) raised its full-year net interest income (NII) forecast after strong performance across trading and investment banking propelled the bank past third-quarter profit expectations.
Key takeaways:
- Q3 profit surged to $5.07 per share, beating estimates of $4.84.
- Markets revenue hit a record $8.9B, up 25% YoY, driven by equity and fixed-income trading.
- Investment banking fees rose 16%, as dealmaking momentum returned amid resilient U.S. economic activity and easing rate expectations.
- The bank revised NII guidance to $95.8B for 2025, reflecting continued confidence in lending strength.
- CEO Jamie Dimon cautioned, however, that “complex geopolitical conditions, tariff uncertainty, and elevated asset prices” remain key risks.
CFO Jeremy Barnum added that consumer and small business credit metrics remain stable, underscoring a resilient U.S. economy despite slowing job growth.
💬 “It was another classic, strong quarter from JPMorgan,” said CFRA Research’s Kenneth Leon. “All major segments contributed to growth — a positive sign heading into 2026.”