JPMorgan Chase (JPM) has beat Wall Street estimates for its first quarter 2025 financial results but warned of growing risks posed by tariffs and trade wars.
The largest U.S. bank announced earnings per share (EPS) of $5.07 U.S., which topped consensus forecasts of $4.61 U.S.
Revenue in the January through March period totaled $46.01 billion U.S., which exceeded the $44.11 billion U.S. that had been anticipated on Wall Street.
The bank’s first quarter profit rose 9% and its revenue grew 8% from a year earlier.
JPMorgan largely attributed the results to strong stock trading at a time when U.S. financial markets were at an all-time high.
Despite the solid Q1 results, JPMorgan Chase chief executive officer (CEO) Jamie Dimon sounded a note of caution on the U.S. economy and warned of global trade tensions.
“The economy is facing considerable turbulence (including geopolitics) and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” said Dimon in the bank’s earnings release.
Rising uncertainty in the business environment is expected to cast a cloud over deals and other investment banking activities, such as initial public offerings (IPOs), in coming months.
The stock of JPMorgan Chase has declined 5% so far this year to trade at $227.11 U.S. per share.