JPM's record revenue across all segments and strong EPS beat confirm broad-based earnings momentum. The new $50B buyback authorization signals confidence in capital return. Watch the conference call for NII guidance trajectory and commentary on consumer credit normalization. The elevated Markets revenue may face tougher comps in H2.
Price Chart
Executive Summary
JPMorgan Chase reported Q2 2026 net income of $21.2B ($7.70 diluted EPS), up 41% YoY, with managed revenue of $58.0B (+27% YoY). Results included $5.6B in significant items ($4.6B Visa share gain, $1.0B equity investment gains). Excluding these, core EPS was $6.14, beating the $5.80 consensus by 5.9%. All four business segments posted record revenue, led by CIB Markets revenue up 35% and IB fees up 30%.
Key Financial Metrics
Key Facts
- Q2 2026 diluted EPS $7.70 vs $5.24 YoY (+47%); core EPS ex-significant items $6.14 beat consensus $5.80 (+5.9%)
- Managed revenue $58.0B (+27% YoY); net interest income $25.6B (+10%); noninterest revenue $32.4B (+45%)
- CIB net income $9.7B (+46% YoY); Markets revenue $12.1B (+35%); IB fees $3.3B (+30%)
- CCB net income $5.3B (+3% YoY); revenue $20.3B (+8%); Card Services revenue up 12% on higher revolving balances
- AWM net income $2.0B (+33% YoY); AUM $5.1T (+18%); long-term net inflows $50B
- Provision for credit losses $2.5B; net charge-offs $2.4B; net reserve build $149M
- ROE 24%, ROTCE 29% (23% ex-significant items); CET1 ratio 14.1% (Standardized)
- New $50B share repurchase program authorized effective July 1, 2026; $6.2B net repurchases in Q2
- Dividend $1.50/share; book value per share $133.01 (+9% YoY); tangible book value $113.35 (+10% YoY)
Financial Impact
Q2 net income $21.2B (+41% YoY); core EPS $6.14 beat $5.80 consensus by $0.34 (+5.9%); managed revenue $58.0B (+27% YoY)
Risk Factors
- Consumer credit normalization: Card Services net charge-off rate 3.34% vs 3.40% a year ago, but 30+ day delinquencies at 1.91% vs 2.06% — trending favorably but could revert
- NII sensitivity to rate cuts: net yield on earning assets declined to 2.40% from 2.43% QoQ; earnings-at-risk shows -$2.4B impact from 100bp parallel rate decline
- Expense growth: noninterest expense +15% YoY, outpacing revenue ex-significant items (+15% managed); overhead ratio improved to 48% from 53% but driven by revenue surge
- AOCI deterioration: accumulated other comprehensive loss widened to -$7.7B from -$6.7B QoQ on investment securities losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-048078 |
| Document: a2q26erfexhibit991narrative.htm | 0001628280-26-048078 |
| Document: jpm-20260714.htm | 0001628280-26-048078 |
| Document: 0001628280-26-048078-index-headers.html | 0001628280-26-048078 |
| Document: 0001628280-26-048078-index.html | 0001628280-26-048078 |
| Document: 0001628280-26-048078.txt | 0001628280-26-048078 |
| 8-K Data (Synthetic) | 0001628280-26-048078 |
Filters
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Sep 11, 2026 21d ago | Court Ruling | $356.23 $349.67 | ▼ −1.84% | ▼ −1.50% | $333.32 (−6.43%) |
Sep 10, 2026 22d ago | Court Ruling | $353.56 $349.31 | ▼ −1.20% | ▼ −1.83% | $333.32 (−5.72%) |
Sep 9, 2026 23d ago | Court Ruling | $354.71 $348.92 | ▼ −1.63% | ▼ −0.54% | $333.32 (−6.03%) |
Sep 3, 2026 29d ago | Court Ruling | $362.06 $356.23 | ▼ −1.61% | ▼ −0.46% | $333.32 (−7.94%) |
Sep 1, 2026 4w ago | Court Ruling | $354.95 $354.71 | ▼ −0.07% | ▼ −0.15% | $333.32 (−6.09%) |
Aug 31, 2026 4w ago | Court Ruling | $356.02 $353.51 | ▼ −0.70% | ▼ −0.56% | $333.32 (−6.38%) |
Aug 31, 2026 4w ago | Court Ruling | $356.02 $353.51 | ▼ −0.70% | ▼ −0.56% | $333.32 (−6.38%) |
Aug 27, 2026 5w ago | Court Ruling | $354.22 $362.06 | ▲ +2.21% | ▲ +1.94% | $333.32 (−5.90%) |
Aug 26, 2026 5w ago | Court Ruling | $356.50 $356.22 | ▼ −0.08% | ▲ +0.04% | $333.32 (−6.50%) |
Aug 19, 2026 6w ago | Court Ruling | $357.26 $356.54 | ▼ −0.20% | ▲ +0.18% | $333.32 (−6.70%) |
US Market Status
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