Quarterly Earnings Snapshot

2025-07-15 · Market News · MarketsFN Team

Quarterly Earnings Snapshot as Key Financial Companies Report Results

Date: July 15, 2025

Several major financial institutions, including State Street Corporation (NYSE: STT), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo (NYSE: WFC), and BlackRock, Inc. (NYSE: BLK), released their second-quarter 2025 earnings reports before the market opened today. Below is a concise overview of their financial performance, highlighting key metrics and strategic developments.

State Street Corporation (NYSE: STT)

Financial Highlights

• Earnings Per Share (EPS): $2.17, up 6% QoQ and 1% YoY; adjusted EPS at $2.53, up 6% YoY.
• Net Income: $693 million, up 8% QoQ but down 3% YoY.
• Total Revenue: $3.448 billion, up 5% QoQ and 8% YoY; adjusted revenue at $3.469 billion, up 5.6% YoY.
• Total Fee Revenue: $2.719 billion, up 6% QoQ and 11% YoY.
• Net Interest Income: $729 million, up 2% QoQ but down 1% YoY.
• Pre-tax Margin: 25.8%, up 0.8 points QoQ but down 2.8 points YoY.

Assets and Business Developments

• Assets Under Custody/Administration (AUC/A): $49 trillion, up 5% QoQ and 11% YoY.
• Assets Under Management (AUM): $5.117 trillion, up 10% QoQ and 17% YoY.
• New Wins: Secured $1.1 trillion in new AUC/A wins and $82 billion in investment management net inflows.
• Operational Note: Achieved six consecutive quarters of positive year-over-year operating leverage (excluding notable items) and record foreign exchange trading volumes, up 17%.

Capital Returns

• Dividend: Planned 11% increase to $0.84 per share, pending board approval.
• Share Repurchase: Returned $517 million, including $300 million in share repurchases.

JPMorgan Chase & Co. (NYSE: JPM)

Financial Highlights

• Net Income: $15.0 billion ($5.24 per share); adjusted at $14.2 billion ($4.96 per share), down 17% YoY.
• Total Revenue: $44.9 billion (reported), $45.7 billion (managed), down 10% YoY.
• Net Interest Income: $23.3 billion, up 2% YoY; excluding markets, $22.8 billion, down 1% YoY.
• Noninterest Revenue: $22.4 billion, down 20% YoY; excluding markets, $14.0 billion, up 8% YoY.
• Noninterest Expenses: $23.8 billion, flat YoY, with an overhead ratio of 53% (reported) and 52% (managed).
• Provision for Credit Losses: $2.8 billion, with net charge-offs at $2.4 billion, up 8% YoY.

Business Segment Performance

• Consumer & Community Banking (CCB): Net income of $5.2 billion (up 23% YoY), revenue of $18.8 billion (up 6% YoY).
• Commercial & Investment Banking (CIB): Net income of $6.7 billion (up 13% YoY), revenue of $19.5 billion (up 9% YoY).
• Asset & Wealth Management (AWM): Net income of $1.5 billion (up 17% YoY), AUM at $4.3 trillion (up 18% YoY).
• Corporate: Net income of $1.7 billion, down 75% YoY, impacted by a $774 million tax benefit.

Capital Returns

• CET1 Ratio: 15.0% standardized.
• Dividends: Declared $3.9 billion ($1.40 per share), up 20% YoY.
• Share Repurchase: $7.1 billion in common stock repurchased.

Wells Fargo (NYSE: WFC)

Financial Highlights

• Net Income: $5.5 billion ($1.60 per share), up from $4.9 billion ($1.33 per share) in Q2 2024.
• Total Revenue: $20.8 billion, up 0.6% YoY.
• Noninterest Expense: $13.4 billion, up 0.6% YoY.
• Provision for Credit Losses: $1.0 billion, down 18.7% YoY.
• Return on Equity (ROE): 12.8%, up from 11.5% YoY.
• CET1 Ratio: 11.1%, slightly up from 11.0% YoY.

Operating Segments

• Consumer Banking and Lending: Revenue of $9.2 billion, up 2% YoY, driven by 9% growth in credit card income.
• Commercial Banking: Revenue of $2.9 billion, down 6% YoY, with net interest income down 13%.
• Corporate and Investment Banking: Revenue of $4.7 billion, down 3% YoY.
• Wealth and Investment Management: Revenue of $3.9 billion, up 1% YoY.

Capital Returns

• Share Repurchase: Repurchased 43.9 million shares for $3.0 billion.
• Dividend: Planned 12.5% increase for Q3 2025, pending board approval.

BlackRock, Inc. (NYSE: BLK)

Financial Highlights

• Net Income: $1.593 billion, up 7% YoY; attributable to BlackRock at $1.883 billion, up 21% YoY.
• Total Revenue: $5.423 billion, up 13% YoY.
• Operating Income: GAAP at $1.731 billion, down 4% YoY; adjusted at $2.099 billion, up 12% YoY.
• Earnings Per Share: Diluted EPS at $10.19, up 2% YoY; adjusted at $12.05, up 16% YoY.
• AUM: $12.528 trillion, up 18% YoY; average AUM at $11.975 trillion, up 15% YoY.
• Net Inflows: $67.7 billion, down 17% YoY; year-to-date inflows at $152 billion.

Investment Type Flows

• Equity: $28.78 billion in inflows.
• Fixed Income: $4.66 billion in outflows.
• Multi-Asset: $6.74 billion in outflows.
• Alternatives: $19.54 billion in inflows, including private markets and digital assets.

Capital Returns

• Dividend: $5.21 per share, up from $5.10 YoY.
• Share Repurchase: $375 million in shares repurchased.

Summary

The Q2 2025 earnings from these financial giants reflect a mixed but generally resilient performance. State Street and BlackRock reported strong AUM growth, with State Street achieving significant fee revenue increases and BlackRock seeing robust inflows in alternatives and digital assets. JPMorgan Chase maintained solid segment performance despite a year-over-year revenue decline, while Wells Fargo showcased improved earnings and credit quality. All four companies emphasized shareholder returns through dividends and share repurchases, signaling confidence in their financial stability amidst economic uncertainties.