In the second quarter, the bank built reserves for bad loans.
The numbers are listed here.
The New York-based company's profit fell to $8.65 billion, or $2.76 a share, from a year earlier. The bank received a reserve release of $3 billion.
The banking industry is closely watched for clues on how it performed during a quarter marked by conflicting trends.
Consumers and businesses should be able to repay their loans because unemployment levels are low. Banks are becoming more profitable due to rising interest rates. Fixed income traders have benefited from financial markets being volatile.
Most big bank stocks have sunk to 52 week lows in recent weeks as analysts slashed earnings estimates for the sector on concern about a looming recession. Revenue from capital markets activities has fallen sharply, and firms may have to report more write downs.
Reserve releases as loans performed better than expected could reverse as banks are forced to set aside money for potential defaults as the risk of recession increases.
In the first quarter of this year, JPMorgan booked a $902 million charge for building credit reserves, making it the first bank to do so. Jamie Dimon warned investors last month that an economic " Hurricane" was on its way.
Beyond the results of the second quarter, analysts will be interested in any updates on the economy. Inflation in the US has been more stubborn than expected, with the consumer price index surging in June.
With all the conflicting data, investors should be prepared for a wide range of outcomes for the banks this quarter.
There are some trends that are expected to be common. The collapse in IPO activity has put pressure on investment banking. Pinto said in May that banking fees were going to decline. Markets revenue could increase by 20% because of interest rates and commodity prices.
At the firm's investor day in May, it was said that it could achieve a key target of 17% returns this year, earlier than expected. Rivals were able to increase their dividends last month despite the company keeping its payouts the same.
Bank analysts can ask if management can adjust expenses in response to the business environment.
The decline of the bank index has been worse than the decline of the shares of JP Morgan.
Morgan Stanley is expected to report results on Thursday, followed by Wells Fargo and Citigroup on Friday and Bank of America and Goldman on Monday.
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