JPMorgan announces $57.35 billion second-quarter revenue
- JPMorgan Chase reported second-quarter revenue of $57.35 billion and earnings per share of $7.70.
- The financial results exceeded Wall Street consensus estimates by $2.15 per share.
- The company attributed the revenue increase to higher global investment banking fees and stock-trading volume.
JPMorgan Chase (NYSE:JPM) reported a second-quarter earnings per share of $7.70 on $57.35 billion in total revenue.
The financial results significantly exceeded the analyst consensus estimates of $5.55 per share and $50.61 billion in revenue.
The earnings increase was primarily driven by a 30% year-over-year rise in global investment banking fees.
The institution also recorded increased stock-trading revenue propelled by the SpaceX initial public offering and broad market volatility.
Following the announcement, JPMorgan Chase's share price was up at $334.53.
The bank maintained its position as the top global investment banking firm through participation in major transactions.
The company stock has recorded a 16.74% overall valuation increase over the preceding 12-month trading period.
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