[https://www.cnbc.com/2026/01/13/jpmorgan-chase-jpm-earnings-q4-2025.html](https://www.cnbc.com/2026/01/13/jpmorgan-chase-jpm-earnings-q4-2025.html)
* JPMorgan Chase topped earnings and revenue expectations for the fourth quarter.
* The company recorded a one-time, pre-announced charge related to its takeover of the Apple Card loan portfolio from Goldman Sachs.
* While trading revenue beat Wall Street estimates, investment banking appeared to disappoint.
* JPMorgan Chase executives will host a call with analysts at 8:30 a.m. ET.
[JPMorgan Chase](https://www.cnbc.com/quotes/JPM/) on Tuesday [posted](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2025/4th-quarter/d868c7ef-1670-465d-ba75-c2b36ddbcc6b.pdf) fourth-quarter results that topped expectations on better-than-expected revenue from the bank’s trading operations.
Here’s what the company reported:
* **Adjusted earnings: $5.23 per share vs. $5 consensus estimate from LSEG**
* **Revenue: $46.77 billion vs. $46.201 billion expected by LSEG**
The company [said](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2025/4th-quarter/d868c7ef-1670-465d-ba75-c2b36ddbcc6b.pdf) profit fell 7% to $13.03 billion, or $4.63 per share, because of a [pre-announced](https://www.cnbc.com/2026/01/07/jpmorgan-apple-credit-card.html) $2.2 billion reserve tied to its takeover of the Apple Card loan portfolio from Goldman Sachs. Excluding the 60-cent-per-share hit from that transaction, adjusted earnings came in at $5.23 and topped analysts’ expectations.
Companywide revenue rose 7% to $46.77 billion as net interest income also rose by 7% to $25.1 billion, roughly matching analyst expectations for NII, according to StreetAccount.
Equities trading revenue surged 40% to $2.9 billion, about $350 million more than analysts had expected, as the company cited strength across operations, especially in its business catering to hedge funds. Fixed income trading revenue rose 7% to $5.4 billion, about $110 million more than expected, according to StreetAccount.
Investment banking, however, appeared to disappoint, as fees fell 5% to $2.3 billion, roughly $210 million below the StreetAccount estimate.
**Shares of the bank climbed less than 1% in premarket trading.**