Finance
JPMorgan Posts Record Revenue on Rates, First Republic Deal
- Net interest income rises to an all-time high of $21.8 billion
- Dimon says the US economy ‘continues to be resilient’
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JPMorgan Chase & Co.’s revenue soared to a record in the second quarter, boosted by the Federal Reserve’s interest-rate hikes and its acquisition of First Republic Bank.
The firm’s $41.3 billion in revenue beat analysts’ expectations, fueled by $21.8 billion in net interest income as well as a $2.7 billion gain on its First Republic purchase, according to a statement Friday.