JPMorgan Chase (JPM) earnings Q1 2025

JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Friday.

Here’s what Wall Street expects, according to LSEG:

• Earnings: $4.61 a share
• Revenue: $44.11 billion

JPMorgan Chase will be the first major U.S. bank to report earnings for the most recent quarter in a time of rising economic uncertainty.

Investors will want to know how consumers, businesses and corporations are faring after President Donald Trump escalated global trade tensions starting April 2.

Jamie Dimon, the longtime JPMorgan leader, said Wednesday that he thought aggressive tariff policies would likely trigger a recession. Trump on Wednesday lowered his proposed tariff rates on most countries, except China, for an initial period of 90 days.

While bank executives are sure to focus on the quarter, which ended before Trump’s so-called “Liberation Day” announcement last week, bank stocks have swung wildly on recession fears, making backward-looking discussions less relevant.

The lack of certainty in the business environment for many companies was expected to cast a pall over some investment banking activities, including IPO listings and merger advice.

But it was also expected to provide a good environment for Wall Street trading desks to print money.

Wells Fargo and Morgan Stanley are also expected to report Friday, with Goldman Sachs, Bank of America and Citigroup coming next week.

This story is developing. Please check back for updates.