JPMorgan notches another record year of profits
Published On Jan 15, 2025, 8:30 AM
JPMorgan Chase reported a record full-year profit of $58 billion for 2024, with Q4 profits rising to $14 billion, a 50% increase from the previous year. This growth was driven by a resurgence in investment banking and trading revenues, which increased significantly due to market volatility. CEO Jamie Dimon hinted at staying on longer, while also highlighting some consumer weaknesses in earnings and concerns about inflation. Nonetheless, the bank has raised its guidance for net interest income for 2025 to $90 billion, showing confidence in continued growth.
Stock Forecasts
JPM
Positive
Given JPMorgan's record profit and the positive outlook for investment banking and trading, the bank is well-positioned for future growth. The increase in net interest income guidance further supports this outlook. Overall, investor sentiment towards JPM is likely to remain positive as Wall Street's recovery and consumer spending continue to show resilience.
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