JPMorgan sees profit decline in Q2, impacted by one-time gain last year
JPMorgan Chase reported a drop in profit for the second quarter, largely due to a tough comparison with last year's earnings, which were boosted by a one-time accounting gain.
For the three months ending June 30, the bank posted a profit of $14.99 billion, or $5.24 per share, down from $18.15 billion, or $6.12 per share, recorded during the same period last year, News.Az reports, citing Reuters.
Market activity surged as investors seized opportunities and hedged risks in response to shifting U.S. tariff policies. The turmoil propelled trading revenue 15% higher to $8.9 billion, driven by gains in both fixed income and equities.
JPMorgan's investment banking fees rose 7% to $2.5 billion, underpinned by a rise in initial public offerings and mergers and acquisitions.
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