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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Investment banking fees $ 2,304 $ 1,513 $ 4,258 $ 3,162
Principal transactions 6,814 6,910 13,604 14,525
Lending- and deposit-related fees 1,828 1,828 3,730 3,448
Asset management fees 4,302 3,774 8,448 7,239
Commissions and other fees 1,924 1,739 3,729 3,434
Investment securities losses (547) (900) (913) (1,768)
Mortgage fees and related income 348 278 623 499
Card income 1,332 1,094 2,550 2,328
Other income 9,149 3,292 10,277 4,299
Noninterest revenue 27,454 19,528 46,306 37,166
Interest income 48,513 41,644 95,951 78,648
Interest expense 25,767 19,865 50,123 36,158
Net interest income 22,746 21,779 45,828 42,490
Total net revenue 50,200 41,307 92,134 79,656
Provision for credit losses 3,052 2,899 4,936 5,174
Noninterest expense        
Compensation expense 12,953 11,216 26,071 22,892
Occupancy expense 1,248 1,070 2,459 2,185
Technology, communications and equipment expense 2,447 2,267 4,868 4,451
Professional and outside services 2,722 2,561 5,270 5,009
Marketing 1,221 1,122 2,381 2,167
Other expense 3,122 2,586 5,421 4,225
Total noninterest expense 23,713 20,822 46,470 40,929
Income/(loss) before income tax expense/(benefit) 23,435 17,586 40,728 33,553
Income tax expense 5,286 3,114 9,160 6,459
Net income/(loss) 18,149 14,472 31,568 27,094
Basic net income applicable to common stockholders 17,718 14,011 30,661 26,204
Diluted net income applicable to common stockholders $ 17,718 $ 14,011 $ 30,661 $ 26,204
Net income per common share data        
Basic earnings per share (in dollars per share) $ 6.13 $ 4.76 $ 10.58 $ 8.86
Diluted earnings per share (in dollars per share) $ 6.12 $ 4.75 $ 10.56 $ 8.85
Weighted-average basic shares (in shares) 2,889.8 2,943.8 2,899.1 2,956.1
Weighted-average diluted shares (in shares) 2,894.9 2,948.3 2,903.9 2,960.5