MW Jamie Dimon says U.S. economy is resilient as JPMorgan Chase earnings beat expectations
By Steve Goldstein
Stock rallies after earnings, as consumers continue to spend and job market doesn't appear to be worsening
JPMorgan Chase CEO Jamie Dimon says the U.S. economy is resilient as earnings beat analyst expectations.
JPMorgan Chase on Tuesday marked the unofficial beginning to fourth-quarter earnings season with forecasting-beating results.
JPMorgan said its fourth-quarter profit fell 7% to $13 billion, or $4.63 a share, while revenue rose 7% to $46.8 billion.
Its provision for credit losses swelled to $4.66 billion from $2.63 billion thanks to a $2.2 billion reserve for taking on Apple's credit card portfolio.
Excluding items, JPMorgan said it would've earned $5.23 a share. Analysts polled by FactSet expected earnings of $4.85 a share on revenue of $46.17 billion.
JPMorgan shares $(JPM)$ rose 1% in premarket trade. The stock has surged 31% over the last 52 weeks.
"The U.S. economy has remained resilient. While labor markets have softened, conditions do not appear to be worsening. Meanwhile, consumers continue to spend, and businesses generally remain healthy," said Chairman and CEO Jamie Dimon in a statement.
He said each of its major businesses performed well during the quarter, with markets benefiting from demand for financing and robust client activity while payments revenue hit a record due to deposit and fee growth.
The bank also said it now has more than $7 trillion in assets under management after $553 billion of client asset inflows last year.
-Steve Goldstein
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January 13, 2026 07:12 ET (12:12 GMT)
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