Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Income

v3.25.2
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net interest income        
Interest income $ 34,873 $ 36,854 $ 68,939 $ 73,139
Interest expense 20,203 23,152 39,826 45,405
Net interest income 14,670 13,702 29,113 27,734
Noninterest income        
Fees and commissions 9,469 8,969 18,884 17,629
Market making and similar activities 3,153 3,298 6,737 7,186
Other income (loss) (829) (592) (905) (1,354)
Total noninterest income 11,793 11,675 24,716 23,461
Total revenue, net of interest expense 26,463 25,377 53,829 51,195
Provision for credit losses 1,592 1,508 3,072 2,827
Noninterest expense        
Compensation and benefits 10,332 9,826 21,221 20,021
Information processing and communications 1,819 1,763 3,713 3,563
Occupancy and equipment 1,836 1,818 3,692 3,629
Product delivery and transaction related 974 891 1,888 1,742
Professional fees 640 654 1,292 1,202
Marketing 563 487 1,069 942
Other general operating 1,019 870 2,078 2,447
Total noninterest expense 17,183 16,309 34,953 33,546
Income before income taxes 7,688 7,560 15,804 14,822
Income tax expense 572 663 1,292 1,251
Net income 7,116 6,897 14,512 13,571
Preferred stock dividends and other 291 315 697 847
Net income applicable to common shareholders $ 6,825 $ 6,582 $ 13,815 $ 12,724
Per common share information        
Earnings (in dollars per share) $ 0.90 $ 0.83 $ 1.81 $ 1.60
Diluted earnings (in dollars per share) $ 0.89 $ 0.83 $ 1.79 $ 1.59
Average common shares issued and outstanding (in shares) 7,581.2 7,897.9 7,629.5 7,933.3
Average diluted common shares issued and outstanding (in shares) 7,651.6 7,960.9 7,711.2 7,996.2