JPMorgan Chase reported a return on tangible common equity of 23% in the second quarter, exceeding its own 17% long-term target for the seventh consecutive quarter. All business units generated record revenue, with total revenue surging 27% year over year to $58 billion and earnings rising 47% to $7.70 per share. CEO Jamie Dimon cautioned that such high margins may not be sustainable forever and noted potential risks in the broader stock market, but the bank's fortress balance sheet and favorable valuation with a price-to-earnings ratio of 15 continue to support its long-term investment case.
Bank of America Corp
Wells Fargo & CompanyJPMorgan Chase & CoJPMorgan reports record revenue and earnings, beating its ROTCE target for the seventh straight quarter.
