JPMorgan Q4 Earnings Miss Estimates as Apple Card Provisions Weigh on Profits
JPMorgan Chase & Co. reported a 7% decline in fourth-quarter profit to $13 billion, falling short of analyst expectations. The bank's stock dropped 4.15% following the announcement, reflecting investor disappointment despite a 7% revenue increase to $45.8 billion for the quarter.
The full-year picture showed modest growth, with revenue climbing to $182.4 billion from $177.6 billion in 2024. However, annual profit of $57 billion failed to match 2024's record $58.5 billion—still the highest ever for a U.S. bank.
A $2.2 billion provision for potential Apple Card losses sliced 60 cents per share from earnings. Investment banking revenues disappointed at $2.3 billion, down from $2.5 billion year-over-year, as anticipated deals failed to materialize. Markets division performance offered some relief with improved trading revenue.
