JP MORGAN CHASE(JPM) - 2025 Q1 - Quarterly Results

Financial Performance - Total net revenue for Q1 2025 was $45,310 million, representing a 6$14,643 million, up 5% from Q4 2024 and 9% from Q1 2024[5]. - Earnings per share (EPS) for Q1 2025 was $5.08 (basic), a 5$4.82 in Q4 2024 and a 14% increase from $4.45 in Q1 2024[5]. - Total net revenue for Q1 2025 was$46,014 million, an increase of 5% from Q4 2024 and 8% from Q1 2024[26]. - Net income for Q1 2025 reached $14.64 billion, reflecting a 5$19,666 million, representing a 12% increase from Q4 2024 and Q1 2024[51]. - Net income for Q1 2025 was $4,425 million, a decrease of 2$2,304 million, a 15% increase from $2,000 million in Q4 2024 and a 5$2,202 million in Q1 2024[75]. Revenue Breakdown - Consumer & Community Banking revenue was $18,313 million, showing a slight decrease from$18,362 million in the previous quarter[10]. - Commercial & Investment Bank revenue increased by 12% to $19,666 million compared to$17,598 million in the previous quarter[10]. - Asset & Wealth Management revenue decreased by 1% to $5,731 million from$5,778 million in the previous quarter[10]. - Noninterest revenue rose to $22.04 billion, a 13$23,273 million, remaining stable compared to Q4 2024, with a slight increase of 1% from Q1 2024[26]. - Noninterest revenue reported at $22.037 billion, representing a 13$19.418 billion in the previous quarter[93]. Expenses and Provisions - Total noninterest expense for Q1 2025 was $23,597 million, a 4$3,305 million in Q1 2025, a 26% increase from Q4 2024 and a 75% increase from Q1 2024[5]. - Provision for credit losses increased by 26% from Q4 2024 to $3.31 billion, and was up 75$25,208 million in Q1 2025 from $24,345 million in Q4 2024, representing a 13$4,357,856 million from $4,090,727 million[10]. - Total assets as of March 31, 2025, were$4.36 trillion, a 9% increase from December 31, 2024[18]. - Total liabilities increased by 10% from December 31, 2024, to $4.01 trillion[18]. - Total assets reached$2,174,123 million, a 23% increase from Q4 2024 and a 15% increase from Q1 2024[56]. Capital and Equity - The market capitalization as of Q1 2025 was $681,712 million, reflecting a 2$330,546 million as of March 31, 2025, a 2% increase from December 31, 2024[30]. - Common stockholders' equity grew by 2% to $324,345 million from$318,376 million in the prior quarter[20]. Shareholder Returns - Cash dividends declared per share increased to $1.40 in Q1 2025, a 12$1.25 in Q4 2024 and a 22% increase from $1.15 in Q1 2024[5]. - The dividend payout ratio for Q1 2025 was 27$252.50 per share, totaling $7,563 million in aggregate repurchases[35]. Risk and Credit Quality - The average Value at Risk (VaR) increased to$50 million from $40 million in the previous quarter, indicating higher risk exposure[10]. - The net charge-off rate for total loans was 1.54$5,048 million in Q1 2025, down 1% from $5,118 million in Q4 2024, and up 37$3,691 million in Q1 2024[59]. - The total allowance for credit losses increased by 4% to $27,552 million in Q1 2025 from$26,598 million in Q4 2024, a 13% increase year-over-year[89]. Customer Metrics - The number of active digital customers reached 72,480 thousand, an increase of 2% from the previous quarter and 6% year-over-year[47]. - The number of client advisors rose to 5,860, reflecting a 2% increase from 5,755 in the previous quarter and a 5% increase year-over-year[47]. - The number of Global Private Bank client advisors increased to 3,781 in Q1 2025, up from 3,775 in Q4 2024[67].