JPMorgan Chase (NYSE:JPM) Full Year 2024 Results

Key Financial Results

• Revenue: US$166.8b (up 14% from FY 2023).
• Net income: US$56.9b (up 19% from FY 2023).
• Profit margin: 34% (up from 33% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$19.79 (up from US$16.25 in FY 2023).

JPM Banking Performance Indicators

• Net interest margin (NIM): 2.63% (down from 2.70% in FY 2023).
• Cost-to-income ratio: 51.0% (down from 54.0% in FY 2023).
• Non-performing loans: 0.66% (up from 0.52% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

JPMorgan Chase Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.8%.

The primary driver behind last 12 months revenue was the Commercial and Investment Bank segment contributing a total revenue of US$69.4b (42% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$77.3b (70% of total expenses). Explore how JPM's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Banks industry in the US.

The company's shares are up 2.0% from a week ago.

Risk Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.