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JPMorgan Chase & Co. (JPM, Financial) will post Q2 results before the bell on 15 Jul 2025. Given its vast branch and card network that touches millions of households, investors often treat the bank and CEO Jamie Dimon's remarks as an early read on consumer sentiment. They are also keen to hear Dimon's views on tariffs and their potential impact on the economy.
Street consensus points to EPS of $4.48 and revenue of $43.9 billion. Ahead of the print, the stock has risen 20% year-to-date and now sits about 3% below the early-July record high, so expectations are elevated.
Investors will focus on whether net interest income remains resilient and how much wage inflation and technology spending weigh on expenses. Management last quarter guided for FY 2025 NII "around the mid-$90 billion area," so any tweak could steer estimates. Credit costs warrant attention after Dimon recently put recession odds near 50%. On rates, the 2s-10s yield curve has moved from last year's inversion to a modest 53 bp slope. That is steeper than six months ago but still flatter than the long-run average near 150 bp, which means margin tailwinds are tapering even as trading desks may welcome the extra volatility. Commentary on deposit betas, card-spending trends, and capital returns against Basel III Endgame targets will set the tone for the sector.
