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3w ago

Comptroller: Wall Street Profits Jump, On Pace to Top $60 Billion in 2025

Stronger trading activity with higher fee income signals potential revenue gains for state and city budgets.

A view shows the New York Stock Exchange (NYSE) Wall Street entrance in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper/File Photo
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Profits on Wall Street nearly doubled last year, according to a new report from the state comptroller's office.
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Overview

  • Pre-tax profits rose 31% year over year to $30.4 billion in the first half of 2025 across 130 NYSE-licensed broker-dealers, according to Comptroller Thomas DiNapoli.
  • Trading revenues jumped about 73% from a year earlier, with underwriting, supervisory fees, interest income and AI-related dealmaking also boosting results.
  • If the current pace holds, full-year profits could exceed $60 billion, pointing to larger bonus pools and stronger-than-expected tax collections.
  • The securities industry generated about $22 billion for the state last fiscal year and an estimated $6.7 billion for New York City in fiscal 2025, shaping upcoming budget planning.
  • Industry employment reached a record 201,500 jobs in New York City in 2024, with preliminary 2025 data showing a roughly 3,000-job dip as DiNapoli warns of risks from rates, inflation, tariffs, geopolitics or a prolonged federal shutdown.