Strong Net Income and Revenue Growth
JPMorgan Chase reported net income of $14.6 billion and EPS of $5.07 on revenue of $46 billion, with an ROTCE of 21%. Revenue was up $3.5 billion or 8% year-on-year.
Commercial & Investment Bank Performance
CIB reported net income of $6.9 billion on revenue of $19.7 billion, which is up 12% year-on-year. IB fees were up 12% year-on-year, with advisory fees up 16% and debt underwriting fees up 16%.
Asset & Wealth Management Growth
AWM reported net income of $1.6 billion, with a pre-tax margin of 35%. Revenue of $5.7 billion was up 12% year-on-year, driven by growth in management fees, net inflows, and higher market levels.
Card Services & Auto Segment Growth
Revenue in Card Services & Auto was up 12% year-on-year, driven by Card NII, higher revolving balances, and higher operating lease income in Auto. Card outstandings were up 10%, and Auto originations were $10.7 billion, up 20%.
Successful Capital Distribution
JPMorgan Chase distributed $11 billion of capital to shareholders, reflecting $7.1 billion of net common share repurchases and an increased common dividend of $1.40 per share.