Q2 2025 Earnings Summary
| Metric | YoY Change | Reason |
|---|---|---|
Total Revenue | -9% (from 50,200 million USD to 45,680 million USD) | The overall decline in total revenue is driven by weaker performance in key segments, notably a dramatic drop in the Standalone Corporate segment, despite growth in Corporate & Investment Bank, Consumer & Community Banking, and Asset & Wealth Management. The Q2 2024 high benchmark was supported by strong noninterest revenue, which was not sustained in Q2 2025. |
Revenue from Corporate & Investment Bank | +9% (from 17,917 million USD to 19,535 million USD) | Enhanced market conditions and increased trading activity led to higher investment banking fees and related revenues. This improvement in Q2 2025 builds on prior period strengths and shifts in revenue components that offset any declines seen earlier. |
Consumer & Community Banking Revenue | +6.5% (from 17,701 million USD to 18,847 million USD) | Growth in net interest and noninterest revenues—particularly from card services and fee income—propelled rising income in Q2 2025. This improvement follows the positive trends observed in Q2 2024, albeit with offsetting factors like deposit margin compression that were less pronounced previously. |
Asset & Wealth Management Revenue | +10% (from 5,252 million USD to 5,760 million USD) | Increased management fees and elevated brokerage activity drove the nearly 10% boost in revenue. Building on the net inflow momentum of Q2 2024, higher average market levels and stronger fee contributions resulted in improved performance in Q2 2025. |
Standalone Corporate Segment Revenue | -85% (from 10,122 million USD to 1,538 million USD) | The dramatic decline reflects a reversal of last period’s gains, including reduced net investment valuation gains and diminished First Republic contributions. Lower net interest income and significant expense adjustments in Q2 2025 further contributed to this steep drop compared with the robust figures in Q2 2024. |
| Metric | Period | Previous Guidance | Current Guidance | Change |
|---|---|---|---|---|
Net Interest Income (NII) ($USD Billions) | Q4 2025 | no prior guidance [N/A] | $95.5 billion, including $3.5 billion of market's NII | no prior guidance [N/A] |
NII Ex-Markets ($USD Billions) | Q4 2025 | no prior guidance [N/A] | $92 billion | no prior guidance [N/A] |
Adjusted Expenses ($USD Billions) | Q4 2025 | no prior guidance [N/A] | $95.5 billion | no prior guidance [N/A] |
Card Net Charge-Off Rate (%) | Q4 2025 | no prior guidance [N/A] | 3.6% | no prior guidance [N/A] |
Net Interest Income (NII): Firm-wide NII | FY 2025 | $94.5 billion | no current guidance [N/A] | no current guidance [N/A] |
NII excluding markets | FY 2025 | $90 billion | no current guidance [N/A] | no current guidance [N/A] |
Adjusted Expenses: Adjusted expense outlook | FY 2025 | $95 billion | no current guidance [N/A] | no current guidance [N/A] |
Credit Costs: Card net charge-off rate | FY 2025 | 3.6% | no current guidance [N/A] | no current guidance [N/A] |