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Wall Street Banks Smash Profit Records
JPMorgan Chase, Bank of America, and Goldman Sachs reported blockbuster second-quarter earnings, driven by a surge in dealmaking and equities trading amid market volatility from the Iran conflict.
JPMorgan posted a record $21.2 billion profit, while equities revenue jumped 86%.
The five largest US banks collectively generated $49 billion in profits, with SpaceX's historic IPO contributing to the trading frenzy.
The extraordinary results underscore how geopolitical turmoil and the AI boom have supercharged Wall Street's core businesses.
American multinational banking and financial services holding company
Bank of America
American multinational banking and financial services corporation
American multinational banking and financial services corporation
Goldman Sachs
American investment bank
American investment bank
Wall Street
Street in Manhattan, New York, USA
Street in Manhattan, New York, USA