JPMorgan Chase (NYSE: JPM) reported stronger-than-expected first-quarter revenue, though CEO Jamie Dimon highlighted growing economic risks tied to trade policy, inflation, and market volatility. Following the announcement, the company’s shares rose 4% intra-day Friday.
The bank posted an adjusted revenue of $46.01 billion for Q1, marking an 8% increase from the prior year and beating Bloomberg consensus estimates of $44.39 billion. Net income rose 9% to $14.6 billion, supported by higher investment banking fees and robust performance in its markets division.
Despite the solid financial results, JPMorgan flagged concerns over the potential long-term impact of President Donald Trump’s proposed tariffs. While many of the duties have been delayed, the bank noted that the cumulative effects could weigh on the broader economy and pose risks to areas such as loan growth, underwriting, and advisory activity.
JPMorgan set aside $3.31 billion in provisions for credit losses during the quarter, well above the $2.7 billion analysts had forecast, as it prepared for potential pressure on borrowers amid ongoing uncertainty.
While the firm emphasized its balance sheet strength and ability to navigate volatile conditions, it also acknowledged that client sentiment has turned more cautious in response to rising geopolitical and trade-related tensions.
In response to the earnings release, CFRA analyst Kenneth Leon lowered the price target for JPMorgan Chase (NYSE: JPM) shares from $310.00 to $260.00 but maintained a Buy rating.
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