In the first quarter, the firm generated earnings per share of $5.94, surpassing the consensus estimate of $5.44. This result also marked an increase from the $5.07 recorded in the same period last year.
The company disclosed revenue of $50.54 billion, which was above the estimated $49.17 billion. This represented a rise from the $46.01 billion reported a year earlier.
Jamie Dimon, Chairman and CEO, commented: “The Firm delivered strong results in the first quarter, reporting net income of $16.5 billion. Regarding capital, we were pleased to see that the recent capital re-proposals mitigated the most severe consequences of the 2023 proposals.”
Net interest income for the quarter was $25.5 billion, reflecting a 9 percent increase. Noninterest revenue reached $25.1 billion, up 11 percent.
Average deposits rose 2 percent year-over-year and quarter-over-quarter, while client investment assets increased 18 percent year-over-year.
Average loans grew 1 percent year-over-year and remained flat quarter-over-quarter. The Card Services net charge-off rate was 3.47 percent.
Markets revenue for the quarter increased by 20 percent year-over-year, with Fixed Income Markets up 21 percent and Equity Markets up 17 percent.
