Call Start: 08:30 January 1, 0000 9:21 AM ET
JPMorgan Chase & Co. (NYSE:JPM)
Q4 2024 Earnings Conference Call
January 15, 2025, 08:30 AM ET
Company Participants
Jeremy Barnum - CFO
Jamie Dimon - Chairman and CEO
Conference Call Participants
John McDonald - Truist Securities
Mike Mayo - Wells Fargo Securities
Jim Mitchell - Seaport Global Securities
Erika Najarian - UBS
Matt O'Connor - Deutsche Bank
Betsy Graseck - Morgan Stanley
Ebrahim Poonawala - Bank of America Merrill Lynch
Gerard Cassidy - RBC Capital Markets
Operator
Good morning, ladies and gentlemen. Welcome to JPMorgan Chase's Fourth Quarter 2024 Earnings Call. This call is being recorded. [Operator Instructions] We will now go live to the presentation. The presentation is available on JPMorgan Chase's website, please refer to the disclaimer in the back concerning forward-looking statements. Please standby.
At this time, I would like to turn the call over to JPMorgan Chase's Chairman and CEO, Jamie Dimon; and Chief Financial Officer, Jeremy Barnum. Mr. Barnum, please go ahead.
Jeremy Barnum
Thank you, and good morning, everyone.
Starting on Page 1, the firm reported net income of $14 billion, EPS of $4.81 on revenue of $43.7 billion with an ROTCE of 21%. On Page 2, we have more on our fourth quarter results. The firm reported revenue of $43.7 billion, up $3.8 billion or 10% year-on-year. NII ex-markets was down $548 million or 2%, driven by the impact of lower rates and the associated deposit margin compression, as well as lower deposit balances in CCB, largely offset by the impact of securities reinvestment, higher revolving balances in card and higher wholesale deposit balances.
NII ex-markets was up $3.1 billion or 30%. Excluding the prior year's net investment securities losses, it was up 21%, largely on higher asset management fees and investment banking fees. And markets revenue was up $1.2
- Read more current JPM analysis and news
- View all earnings call transcripts