Filing Flows › JPMorgan Chase (JPM) › Q3 2025
JPMorgan Chase (JPM) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
JPMorgan Chase (JPM) reported revenue of $46.4B for the third quarter 2025 (Q3 2025), +9% from a year earlier and +3% from the quarter before. Operating margin was 40.4%, net earnings $14.4B (31.0% of revenue).
JPMorgan Chase, Q3 2025: revenue $46.4B (+9% year over year), operating margin 40.4%, net earnings $14.4B, operating cash flow −$45.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $46.4B | +3% | +9% |
| Operating profit | $18.7B | +3% | +10% |
| Net earnings | $14.4B | -4% | +12% |
| Operating cash flow | −$45.2B | — | — |
What changed
Revenue was $46.4B in Q3 2025, up 9% year over year and up 3% from the previous quarter.
Operating profit was $18.7B, a 40.4% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 47% reached operating profit, above the 40% margin then. Total costs grew 8% against revenue growth of 9%. The fastest-growing cost line was Sales & marketing (+18%). Net earnings were $14.4B, up 12% year over year. The effective tax rate was 23.2%.
Operating cash flow was −$45.2B. Non-cash charges added back $2.3B of depreciation and amortization and $0.91B of share-based compensation. Working capital and other items used $62.8B.
Questions
What was JPMorgan Chase's revenue in the third quarter 2025?
JPMorgan Chase (JPM) reported revenue of $46.4B for the third quarter 2025 (Q3 2025), +9% from a year earlier and +3% from the quarter before.
Was JPMorgan Chase profitable in the third quarter 2025?
Operating profit was $18.7B (40.4% of revenue) and net earnings $14.4B.
Source: JPMorgan Chase 10-Q on SEC EDGAR.