Overview
- The bank posted adjusted EPS of $5.23 on revenue of $46.77 billion, topping forecasts.
- Year-over-year profit declined roughly 7% as investment-banking fees disappointed and timing effects weighed.
- A $2.2 billion reserve tied to buying Apple’s card portfolio reduced earnings by about $0.60 per share.
- Executives reaffirmed net interest income guidance and described the deal pipeline and client engagement as constructive.
- CEO Jamie Dimon said the DOJ subpoena of Fed Chair Jerome Powell risks undermining confidence in monetary-policy independence.