JPMorgan profit rises as investment banking and trading revenue increase

JPMorgan Chase reported higher second-quarter profit on Tuesday, helped by stronger investment banking fees, trading revenue and exceptional items including higher equity investments.

The bank reported profit of $21.2 billion, up 41 percent from a year earlier. Revenue rose 28 percent to $57.3 billion.

JPMorgan said its markets division had a strong period as US stocks rose sharply. The Nasdaq gained 21.4 percent in the second quarter, its best three-month stretch in six years, helped by strong performance among artificial intelligence-related stocks.

Chief Executive Jamie Dimon said the bank had operated in a favorable environment with high market activity. He also said market sentiment remained constructive for continued investment banking activity.

The results were also helped by a $4.6 billion gain in Visa shares. Dimon said AI investment and more efficient regulation were among factors supporting the US economy, which he described as solid but exposed to risks.

Dimon said the US economy had shown resilience through stronger business investment and hiring, but warned that geopolitical tensions and wars, persistent inflation, large global fiscal deficits and elevated asset prices could still create disruptions.

JPMorgan shares were down 2.6 percent in pre-market trading.