# JPMorgan Chase (JPM) Q2 2026 earnings

Results filed 2026-07-14 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/jpm/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/0001628280-26-048078-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

JPMorganChase reported second-quarter 2026 net income of $21.2 billion ($7.70 per share), net income excluding significant items of $16.9 billion ($6.14 per share)

JPMorgan Chase earned $21.2 billion, or $7.70 per share, in the second quarter, up 41% from a year ago. Revenue was $57.3 billion as reported. The results include a $4.6 billion net gain on Visa shares and $1.0 billion of gains on equity investments. Without those items, net income was $16.9 billion, or $6.14 per share. Markets revenue rose 35% and investment banking fees rose 30%. Every line of business posted record revenue.
The release gives no numeric guidance for coming quarters. CEO Jamie Dimon cited a resilient U.S. economy, helped by AI-driven investment, fiscal stimulus and lighter regulation. He also warned of risks shifting below the surface: geopolitical tensions, sticky inflation, large global fiscal deficits and elevated asset prices. Expenses rose 15% to $27.3 billion, and a lot of the quarter's strength came from elevated market activity that may not last.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Net revenue (reported) | $57.3 billion | up 28% from a year ago | GAAP |
| Net income | $21.2 billion | up 41% from a year ago | GAAP |
| Diluted EPS | $7.70 | up 47% from a year ago | GAAP |
| EPS excluding significant items | $6.14 |  | non-GAAP |
| Net income excluding significant items | $16.9 billion | up 13% from a year ago | non-GAAP |
| Noninterest expense | $27.3 billion | up 15% from a year ago | GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Consumer & Community Banking net revenue | $20.3 billion | up 8% |
| Commercial & Investment Bank net revenue | $24.9 billion | up 27% |
| Asset & Wealth Management net revenue | $6.9 billion | up 19% |
| Corporate net revenue | $6.0 billion | up $4.5 billion |
| Markets revenue | $12.1 billion | up 35% |
| Investment Banking fees | $3.3 billion | up 30% |
| Assets under management | $5.1 trillion | up 18% |

## Key takeaways

1. **Visa and equity gains inflated reported profit** Reported net income was $21.2 billion, but excluding a $4.6 billion net gain related to Visa shares and $1.0 billion of gains on certain equity investments it was $16.9 billion. Excluding these items, EPS was $6.14 versus $7.70 reported.
2. **Equity Markets drove the Commercial & Investment Bank** Markets revenue was $12.1 billion, up 35%, with Equity Markets revenue up 86% and Fixed Income Markets up 6%. CIB net income was $9.7 billion, up 46%.
3. **Investment banking fees hit highest since 2021** Investment Banking fees were $3.3 billion, up 30%, with particularly strong equity underwriting. JPMorgan ranks #1 for Global Investment Banking fees with 9.3% wallet share YTD.
4. **Expenses grew 15%, mostly compensation** Noninterest expense was $27.3 billion, up 15%, driven by higher compensation, brokerage expense and distribution fees, and marketing. The managed overhead ratio was 47%.
5. **Capital stayed strong while returning cash** The CET1 Standardized ratio was 14.1% after a $4.0 billion common dividend and $6.2 billion of net repurchases. Book value per share was $133.01, up 9% YoY.

## Questions

**What were JPMorgan Chase's Q2 2026 headline results?** Net income was $21.2 billion ($7.70 per share) on reported revenue of $57.3 billion. Excluding significant items, net income was $16.9 billion ($6.14 per share).
**How much of Q2 2026 profit came from one-time gains?** A $4.6 billion net gain related to Visa shares added $1.27 to EPS. $1.0 billion of gains on certain equity investments added $0.29 to EPS.
**Which businesses grew fastest in Q2 2026?** Commercial & Investment Bank revenue rose 27% to $24.9 billion, with Markets up 35% and Investment Banking fees up 30%. Asset & Wealth Management revenue rose 19%, and Consumer & Community Banking revenue rose 8%.
**How is JPMorgan's credit quality and capital position?** Credit costs were $2.5 billion, including $2.4 billion of net charge-offs and a $149 million net reserve build. The CET1 Standardized ratio was 14.1%.
**What did management say about the outlook?** The release gives no numeric guidance. Jamie Dimon called the U.S. economy resilient but warned of geopolitical tensions, sticky inflation, large global fiscal deficits and elevated asset prices.

## Slides and investor documents

- [2Q26 Earnings Presentation](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2026/2nd-quarter/9e8f3cef-bd2a-4140-b50f-83c4fba3f23c.pdf) (Slide deck)
- [2Q26 Earnings Transcript](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2026/2nd-quarter/2Q26-earnings-transcript.pdf) (Company's official transcript)
- [2Q26 Earnings Supplement](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2026/2nd-quarter/c9c097af-34e9-4aae-92d2-909a2ab7c083.pdf) (Financial tables)
- [2Q26 10-Q](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2026/2nd-quarter/corp-q2-2026.pdf) (Document)