JPMorgan handily beats Q2 estimates, but Dimon warns of uncertainty

J.P.Morgan second quarter results blew past analysts' estimates, even as its boss cautioned about the potential impact that "material" regulatory changes might have.

That was on top of the uncertainty around stubbornly high inflation and the effect of the war in Ukraine on geopolitics and the global economy.

"While we cannot predict with any certainty how these factors will play out, we are currently managing the Firm to reliably meet the needs of our customers and clients in all environments," chief executive officer Jamie Dimon said.

For the three months ending on 30 June, the lender, the largest in the U.S. by market value, reported a 34% jump in managed net revenues to reach $42.4bn (Refinitiv: $38.96bn).

Its net income meanwhile climbed 67% to reach $2.9bn.

Provisions for credit losses did however more than double, surging by 163% to $2.9bn.

Diluted earnings per share were 72% higher at $4.75 (Refinitiv: $4.0).

The Basel III common equity Tier 1 ratio stood at 13.8% at the end of the period.

J.P. Morgan delivered a return on its tangible common equity of 25% in the second quarter.

The lender declared a common quarterly dividend of $1.0.

Shares of J.P. Morgan were up by 2.91% and trading at a fresh 52-week high of $153.20 before the opening bell.