WASHINGTON — JPMorgan’s second-quarter profit fell to $14.2 billion in the second quarter, but the New York bank beat Wall Street expectations. CEO Jamie Dimon on Tuesday touted another strong performance by the bank, particularly its markets division, where revenue rose by 15% to $8.9 billion.
JPMorgan earned $4.96 per share in the period, adjusted for one-time items, beating the $4.48 per share that analysts were forecasting, but down from last year’s $6.12 per share.
Dimon said the U.S. economy remained resilient in the second quarter, highlighting tax reform and the potential for more deregulation. However, he noted that plenty of risks remain, including tariffs and trade uncertainty, worsening geopolitical conditions and elevated fiscal deficits.
“The finalization of tax reform and potential deregulation are positive for the economic outlook, however, significant risks persist – including from tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices,”