JPMorgan posts strong Q2 numbers, but Jamie Dimon warns of tariff, geopolitical risk

JPMorgan Q2

JPMorgan’s second-quarter profit fell to $14.2 billion in 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 $8.9 billion.

JPMorgan earned $4.96 per share, adjusted for one-time items, beating the $4.48 that analysts were forecasting, but down from last year’s $6.12 per share.

Total managed revenue hit $45.7 billion, also beating expectations but below last year’s $51 billion. Wall Street was expecting revenue just under $44 billion.

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.

“As always, we hope for the best but prepare the firm for a wide range of scenarios,” Dimon said.