JPMorgan Chase racks up biggest profit ever for a US bank as dealmaking sizzles across Wall Street

JPMorgan Chase posted the biggest profit ever for a US bank, as Wall Street giants across the board posted blowout earnings on a resurgence in corporate dealmaking and resilient consumer spending.The nation’s largest bank, run by Dimon for the past two decades, set the pace by logging a staggering $21.2 billion in total profit, or $7.70 a share, as it logged a one-time gain from selling Visa stock.But even when stripping out that windfall, JPMorgan earned $16.9 billion, or $6.14 a share — easily clearing the $5.70 a share predicted by Wall Street analysts tracked by the London Stock Exchange Group (LSEG).The firm raked in $3.3 billion in investment banking fees, up by 30% from the same three months of 2025.Nevertheless, CEO Jamie Dimon sought to temper the enthusiasm with a cautious macroeconomic forecast.“Several risks are shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices,” Dimon warned.“They may remain manageable, but they could also cause meaningful disruptions when they shift or collide.”David Solomon-led Goldman Sachs walloped its LSEG target of $13.91 by posting $20.98 per share.The Wall Street powerhouse watched its total net earnings rocket 78% year-over-year to $6.63 billion.Driving the explosion was a 53% revenue spike in its global banking and markets division, where fees from stock underwriting more than doubled.

Solomon hailed a continuous “flywheel of activity,” as clients flock to the firm to lead strategic, multi-billion-dollar mergers and acquisitions.Wells Fargo rounded out the stellar quarter by reporting a net income of $6.4 billion, up 17% from a year ago.Sign up to receive On The Money by Charlie Gasparino in your inbox every Thursday.

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