JPMorgan Chase's Q1 2025 Earnings Exceed Expectations; Jamie Dimon Cautions on Economic Risks

JPMorgan Chase reported strong first-quarter 2025 earnings, surpassing Wall Street's estimates. Net revenue increased by 8% year-over-year to $45.3 billion, with net income rising 9% to $14.6 billion. Earnings per share reached $5.07, exceeding the expected $4.65. However, the bank increased its provision for credit losses to $3.3 billion, up from $1.9 billion a year earlier. This included a $973 million increase in reserves, citing a deteriorating macroeconomic outlook. CEO Jamie Dimon cautioned about "considerable turbulence" facing the US economy, referencing geopolitics, tariffs, ongoing inflation, and fiscal deficits. He also suggested that a recession is a likely outcome due to potential impacts from tariffs and trade wars. Dimon highlighted the potential positives of tax reform and deregulation, while emphasizing the need for the firm to prepare for a wide range of economic scenarios.