Many major financial firms announced their earnings results on Friday, and many gave investors good news after a week of market turmoil.
JPMorgan Chase, ’'s largest lender, reported annual net income in the first three months of the year. %It said it rose 9 percent to $14.6 billion (€12.8 billion).
CEO Jamie Dimon said that despite President Donald Trump's warning of uncertainty ahead due to the ongoing trade war and other geopolitical tensions, this was above market expectations.
Dimon said the strong performance of the bank's market division helped the bank move to another strong quarter despite the challenges ahead.
JPMorgan’'s earnings per share rose from $4.44 (3.90 euros) to $5.07 (4.46 euros) a year ago. According to data firm FactSet’, the result surpassed Wall Street’'s profit estimates of $4.63 per share. Total managed revenue, 41.9 billion in the previous year $Increased from ’ (€36.8 billion) to 46 billion $’a (€40.4 billion) reached. Wall Street was expecting $44 billion in revenue.
Trump’'s tariff rates, which are now 10 percent for most U.S. trading partners and 145 percent for China, have plunged financial markets into dizzying fluctuations for weeks, creating a tremendous amount of economic uncertainty. This is bad for banks that rely on stability, which allows healthy consumers and businesses to borrow.
JPMorgan’'s trading desk grew in the first three months of 2025’, with the help of market volatility, even before Trump’ introduced massive “ Liberation Day ” tariffs on April 2nd.
The bank's revenue at this time. %While 21 increases, stock revenues also increase annually. is up.
Morgan Stanley, Wells Fargo and BlackRock
Morgan Stanley also surpassed Wall Street’'s first quarter forecasts, which the New York-based investment bank attributed to the strong performance of its stock trading division.
Net revenue reached $4.3 billion (€3.8 billion), while the firm generated record revenues of $17.7 billion (€15.6 billion).
Wells Fargo also reported on Friday that the San Francisco bank's first-quarter net income was $4.89 billion (€4.3 billion) or $1.39 (€1.22) per share. This exceeded analysts' forecast of earnings of $1.23 per share.
Investment firm BlackRock, meanwhile, announced on Friday that its first-quarter net income was $1.51 billion (€1.3 billion).
The New York-based company reported net income of $9.64 (€8.47) per share.
Earnings adjusted to mergers and acquisitions costs and depreciation costs, 11.30 per share $ (€9.93) exceeded Wall Street expectations.
The average estimate of seven analysts surveyed by Zacks Investment Research was $10.25 per share.
The investment firm posted revenues of $5.28 billion (4.6 billion euros), which missed Wall Street’'s estimates during this period. Five analysts surveyed by Zacks’ expected $5.33 billion.
