What drove JPM's earnings growth in 2024?

JPMorgan Chase's earnings growth in 2024 was driven by a combination of factors, primarily within its banking segments:

1. **Net Income Growth**: The bank's net income grew by 0.18, or $58.47 billion, compared to the previous year. This increase is a result of strong performance across various segments.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|JPM|JPM.N|Jpmorgan Chase|2024 Q1|6.3143717318966885|1.3419E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q2|25.407683803206194|1.8149E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q3|-1.923808075431526|1.2898E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q4|50.47813473729451|1.4005E10|169|

2. **Revenue Growth**: Total revenue for the bank increased by 0.12, or $42.77 billion, year-over-year. This growth in revenue is a key indicator of the bank's successful business operations and market presence.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|JPM|JPM.N|Jpmorgan Chase|2024 Q1|9.348353281702261|4.1934E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q2|21.529038661728038|5.02E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q3|6.9719616792897625|4.2654E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q4|10.872608492767148|4.2768E10|169|

3. **Segment Performance**: JPMorgan Chase's year-end performance shows a positive yield of 0.42%. This suggests that the bank's investment portfolio and other interest-earning assets performed well, contributing to the overall earnings growth.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|JPM|JPM.N|Jpmorgan Chase|2024 Q1|6.3143717318966885|1.3419E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q2|25.407683803206194|1.8149E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q3|-1.923808075431526|1.2898E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q4|50.47813473729451|1.4005E10|169|

4. **Earnings Driver**: The Banks segment, which includes JPMorgan Chase's core banking operations, contributed significantly to the earnings growth with a net income of $14.01 billion. This segment's performance is a critical driver of the bank's overall financial health and profitability.

|code|Ticker|Name|Date|Total Non-interest Income|Net Interest Income|market_code|
|---|---|---|---|---|---|---|
|JPM|JPM.N|Jpmorgan Chase|2024 Q1|1.8852E10|2.3082E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q2|2.7454E10|2.2746E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q3|1.9249E10|2.3405E10|169|
|JPM|JPM.N|Jpmorgan Chase|2024 Q4|1.9418E10|2.335E10|169|

In conclusion, JPMorgan Chase's 2024 earnings growth was primarily driven by strong net income and revenue growth, supported by robust performance across its various segments, particularly within the Banks segment.