JPMorgan Chase reported Q2 2024 net income of $18.1 billion ($6.12 per share), up 25% YoY. Results included a $7.9 billion net gain related to Visa shares and a $1.0 billion donation of Visa shares to the Firm's Foundation. Excluding significant items, net income was $13.1 billion ($4.40 per share) with ROTCE of 20%.Total revenue rose 20% to $51.0 billion, driven by higher investment banking fees (+50%), markets revenue (+10%), and asset management fees (+13%). Net interest income was $22.9 billion, up 4%. Credit costs were $3.1 billion, including $2.2 billion of net charge-offs and an $821 million reserve build.The bank maintained strong capital levels with a CET1 ratio of 15.3%. Average loans increased 6% YoY including First Republic, while deposits remained relatively stable QoQ. Management highlighted continued vigilance around potential risks including geopolitical tensions, inflation pressures, and quantitative tightening impacts.

JPMorgan Chase reported Q2 2024 net income of $18.1 billion ($6.12 per share), up 25% YoY. Results included a $7.9 billion net gain related to Visa shares and a $1.0 billion donation of Visa shares to the Firm's Foundation. Excluding significant items, net income was $13.1 billion ($4.40 per share) with ROTCE of 20%.Total revenue rose 20% to $51.0 billion, driven by higher investment banking fees (+50%), markets revenue (+10%), and asset management fees (+13%). Net interest income was $22.9 billion, up 4%. Credit costs were $3.1 billion, including $2.2 billion of net charge-offs and an $821 million reserve build.The bank maintained strong capital levels with a CET1 ratio of 15.3%. Average loans increased 6% YoY including First Republic, while deposits remained relatively stable QoQ. Management highlighted continued vigilance around potential risks including geopolitical tensions, inflation pressures, and quantitative tightening impacts.