Overview

• JPMorgan reported $15 billion in second-quarter net income and adjusted earnings per share of $5.24, topping analyst expectations of $4.48.
• Citigroup delivered $4 billion in quarterly profit, a 25% year-over-year increase that exceeded Wall Street estimates.
• Market swings driven by President Trump’s tariff announcements lifted trading revenues, with JPMorgan’s markets unit generating $8.9 billion and Citigroup’s rising to $5.9 billion.
• Investment banking fees rebounded, climbing 7% to $2.5 billion at JPMorgan and 15% to $981 million at Citigroup as dealmaking picked up in June.
• After clearing the Federal Reserve stress tests, JPMorgan raised its net interest income outlook for 2025 to $92 billion, unveiled a dividend increase and a $50 billion share buyback, and cautioned that trade uncertainty, geopolitical frictions and high fiscal deficits remain threats.