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The Economic Times
The Economic Times

JPMorgan posts record profit on big gains from dealmaking, stock trading

JPMorgan Jamie Dimon JPMorgan Chase Troy Rohrbaugh Bank of America Dealogic

JPMorgan Chase reported ​a record second-quarter profit on Tuesday, as a wave of big-ticket IPOs and dealmaking helped drive investment banking fees to their highest levels since 2021, while its trading desk capitalized on volatile markets.

Revenue rose across all business units at the bank. Investment banking rode a sharp rebound in the U.S. IPO market, led by Elon Musk's SpaceX, which roared into the market with the largest listing in history. JPMorgan ‌was among the lead underwriters ⁠on the ⁠deal.

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