JPMORGAN CHASE & CO (AMJB): JPMORGANCHASE REPORTS 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…
JPMORGAN CHASE & CO (AMJB) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.2 3 a2q26erfex992supplement.htm JPMORGAN CHASE & CO. EARNINGS RELEASE FINANCIAL SUPPLEMENT - SECOND QUARTER 2026 Document Exhibit 99.2 EARNINGS RELEASE FINANCIAL SUPPLEMENT SECOND QUARTER 2026 JPMORGAN CHASE & CO. TABLE OF CONTENTS Page(s) Consolidated Results Consolidated
How this was made
The 30-second read
Why it matters
Provides consolidated 2Q26 income statement results, balance sheet changes, capital ratios (CET1, Tier 1, total capital), and a specific corporate item: JPMorgan becoming the new issuer of Apple Card via a forward purchase commitment.
Market read
Fresh earnings and capital metrics for a systemically important bank can drive near-term positioning in financials, especially around credit-loss and capital adequacy signals.
What to watch
The excerpt flags $2.2B associated with the Apple Card transaction and includes managed versus reported basis differences; traders may want to focus on provision for credit losses and segment managed results rather than consolidated net income alone.
JPMorganChase reports 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)
Managed revenue rose 27% and net income rose 41%, with broad growth across CCB, CIB and AWM. Results included $4.6 billion of net gain related to Visa shares and $1.0 billion of gains on certain equity investments, while excluding significant items net income was up 13% and managed revenue was up 15%.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net revenue - reportedGAAP | $57.35B | 15% | 28% |
| Net revenue - managednon-GAAP | $58.02B | 15% | 27% |
| Net interest incomenon-GAAP | $25.6B | – | 10% |
| Net interest income excluding Marketsnon-GAAP | $23.7B | – | 4% |
| Noninterest revenuenon-GAAP | $32.4B | – | 45% |
| Noninterest revenue excluding Marketsnon-GAAP | $22.3B | – | 59% |
| Noninterest revenue excluding Markets and significant itemsnon-GAAP | $22.3B | – | 19% |
| Markets revenuenon-GAAP | $12.1B | – | 35% |
| Noninterest expenseGAAP | $27.32B | 2% | 15% |
| Provision for credit lossesGAAP | $2.52B | — | (12%) |
| Net charge-offsGAAP | $2.4B | – | down $44 million |
| Net reserve buildGAAP | $149M | – | – |
| Net incomeGAAP | $21.16B | 28% | 41% |
| Net income excluding significant itemsnon-GAAP | $16.9B | – | 13% |
| Earnings per share - dilutedGAAP | $7.70 | 30% | 47% |
| Earnings per share excluding significant itemsnon-GAAP | $6.14 per share | – | – |
| Return on common equityGAAP | 24% | – | – |
| Return on tangible common equitynon-GAAP | 29% | – | – |
| Return on tangible common equity excluding significant itemsnon-GAAP | 23% | – | – |
| Reported overhead ratioGAAP | 48% | – | – |
| Managed overhead rationon-GAAP | 47% | – | – |
| Average loansother | $1.5T | 2% | 10% |
| Average depositsother | . | 3% | 7% |
| Book value per shareGAAP | $133.01 | – | 9% |
| Tangible book value per sharenon-GAAP | $113.35 | – | 10% |
| Basel III common equity Tier 1 capitalother | $303B | – | – |
| Standardized CET1 capital ratioother | 14.1% | – | – |
| Advanced CET1 capital ratioother | 14.2% | – | – |
| Total loss-absorbing capacityother | $590B | – | – |
| Standardized risk-weighted assetsother | $2.1T | – | – |
| Firm supplementary leverage ratioother | 5.5% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Consumer & Community BankingHigher asset management fees in J.P. Morgan Wealth Management, higher deposit-related fees, higher Card Services net interest income on higher revolving balances, and higher auto operating lease income. | $20.27B | 4% | 8% |
| Consumer & Community Banking - Banking & Wealth ManagementHigher asset management fees in J.P. Morgan Wealth Management and higher deposit-related fees. | $11.23B | 6% | 5% |
| Consumer & Community Banking - Home LendingHigher net interest income. | $1.28B | 4% | 3% |
| Consumer & Community Banking - Card Services & AutoHigher Card Services net interest income, largely on higher revolving balances, and higher auto operating lease income. | $7.76B | — | 12% |
| Commercial & Investment BankInvestment Banking, Payments, Lending, Markets and Securities Services revenue growth. | $24.85B | 6% | 27% |
| Commercial & Investment Bank - Banking & PaymentsInvestment Banking revenue increased 45%, Payments revenue increased 12%, and Lending revenue increased 7%. | $11.16B | 7% | 21% |
| Commercial & Investment Bank - Markets & Securities ServicesMarkets revenue increased 35%, led by Equity Markets revenue growth of 86%, while Securities Services revenue increased 17%. | $13.69B | 6% | 33% |
| Asset & Wealth ManagementGrowth in management fees on higher average market levels and strong net inflows, investment valuation gains, higher loan balances and higher brokerage activity. | $6.85B | 7% | 19% |
| CorporateCurrent-quarter significant items included a $4.6 billion net gain related to Visa shares and $763 million of gains on certain equity investments in Corporate. Excluding significant items, revenue was down $805 million. | $6.05B | 398% | 293% |
Capital returns
- Common dividend of $4.0 billion or $1.50 per share
- $6.2 billion of common stock net repurchases
- Net payout LTM of 73%
What drove it
- Firm managed net revenue was driven by net interest income growth, higher asset management fees in AWM and CCB, higher Investment Banking revenue, higher auto operating lease income and Markets revenue.
- CIB Investment Banking fees were $3.3 billion, up 30%, driven by higher fees across all products, with particularly strong performance in equity underwriting fees.
- CIB Fixed Income Markets revenue was $6.1 billion, up 6%, while Equity Markets revenue was $6.0 billion, up 86%.
- CCB debit and credit card sales volume was up 10% YoY and active mobile customers were up 6% YoY.
- AWM reported $50 billion of long-term AUM net inflows.
Concerns
- Firm noninterest expense increased 15%, predominantly driven by higher compensation, brokerage expense and distribution fees, marketing expense, technology expense and occupancy expense.
- CCB provision for credit losses was $2.2 billion, with net charge-offs of $2.2 billion, up $70 million predominantly driven by Card Services.
- Card Services net charge-off rate was 3.34%.
- Corporate net interest income was $822 million, down $667 million, predominantly driven by the impact of lower rates.
- Management identified geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices as risks.
What to watch
- Whether elevated client activity and strong trading performance continue to support Markets revenue.
- The pace of Investment Banking activity, following Investment Banking fee growth of 30%.
- Credit performance in Card Services and Wholesale, following the $149 million firmwide net reserve build primarily in Wholesale.
- The impact of lower rates on net interest income, including Corporate net interest income.
- Expense growth, including revenue-related compensation, technology, marketing, brokerage expense and distribution fees.
Balance sheet and cash flow
- Cash and marketable securities of $1.5T
- JPMorganChase had $5.0 trillion in assets and $375 billion in stockholders’ equity as of June 30, 2026.
- Assets under management of $5.1 trillion, up 18% YoY
- Client assets of $7.7 trillion, up 19% YoY
- No operating cash flow or free cash flow was reported in the provided release.
Analysis
JPMorganChase delivered strong second-quarter 2026 results, with reported net revenue of $57,347 million, up 28%, and managed net revenue of $58,022 million, up 27%. Reported net income was $21,155 million, up 41%, and diluted earnings per share were $7.70, up 47%. The quarter included a $4.6 billion net gain related to Visa shares and $1.0 billion of gains on certain equity investments. Excluding significant items, net income was $16.9 billion, up 13%, net revenue was up 15%, EPS was $6.14 per share and ROTCE was 23%.
The CIB was the principal revenue engine. Net revenue was $24,853 million, up 27%, and net income was $9,678 million, up 46%. Markets revenue increased 35% to $12.1 billion, with Equity Markets revenue up 86% to $6.0 billion and Fixed Income Markets revenue up 6% to $6.1 billion. Investment Banking revenue increased 45% to $3.9 billion and Investment Banking fees increased 30% to $3.3 billion. The release attributed the result to elevated client activity, strong trading performance, continued financing demand in Equities and stronger fees across Investment Banking products.
Consumer & Community Banking revenue increased 8% to $20,272 million, while net income increased 3% to $5,311 million. Banking & Wealth Management and Card Services & Auto both grew, supported by asset management fees, deposit-related fees, higher revolving Card Services balances and auto operating lease income. Credit costs remain a key counterweight: CCB provision for credit losses was $2.2 billion, net charge-offs were $2.2 billion and were up $70 million, predominantly driven by Card Services. The Card Services net charge-off rate was 3.34%.
AWM revenue rose 19% to $6,851 million and net income increased 33% to $1,957 million. Growth reflected management fees on higher average market levels and strong net inflows, investment valuation gains, higher loan balances and higher brokerage activity. AUM reached $5.1 trillion, up 18%, client assets reached $7.7 trillion, up 19%, and the business reported $50 billion of long-term AUM net inflows. Firmwide noninterest expense rose 15% to $27,316 million, led by compensation, brokerage expense and distribution fees, marketing, technology and occupancy costs.
Capital metrics and distributions remained substantial. The Firm reported $303 billion of Basel III CET1 capital, standardized and advanced CET1 ratios of 14.1% and 14.2%, respectively, and a 5.5% supplementary leverage ratio. It returned capital through a common dividend of $4.0 billion, or $1.50 per share, and $6.2 billion of common stock net repurchases. No forward financial guidance was provided in the release. Management highlighted constructive market sentiment for Investment Banking activity but also cited geopolitical tensions and wars, sticky inflation, global fiscal deficits and elevated asset prices as risks.
Management, verbatim
The Firm reported very strong results in the quarter, generating net income of $16.9 billion and an ROTCE of 23%, excluding gains related to Visa and certain equity investments.
Jamie Dimon, Chairman and CEO
Performance was strong across the Firm, and revenue in each line of business hit a new record.
Jamie Dimon, Chairman and CEO
The U.S. economy has demonstrated notable resiliency this year, with stronger business investment and hiring.
Jamie Dimon, Chairman and CEO
Not in the filing
stated, not guessed- Forward financial guidance, including revenue, expenses, tax rate and other outlook metrics
- Prior guidance comparison, as no previous outlook was provided
- Operating income
- Gross margin
- Income tax expense and effective tax rate
- Operating cash flow
- Free cash flow
- Total debt
- Average deposits dollar balance
- Prior-year and prior-quarter amounts for net interest income, noninterest revenue, Markets revenue, net charge-offs, net reserve build, AUM and client assets
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The document is JPMorgan Chase’s SEC Form 8-K (Item 2.02) attaching its Second Quarter 2026 earnings financial supplement.
Ticker impact
JPMorgan’s 2Q26 8-K reports net income of $21.155B, EPS $7.70 diluted, and CET1 ratio 14.1% at June 30, 2026.
Likely supportive for near-term sentiment if results and capital ratios are viewed as stable versus expectations; magnitude depends on Street consensus not provided here.
This is a primary-source earnings release with quantified income statement, balance sheet, and capital ratio data, but the excerpt does not include consensus comparisons or guidance changes beyond the Apple Card transaction note.
Market effects
Large US money-center bank earnings and capital ratios can influence read-across for credit quality and capital adequacy across the sector.
Primarily impacts US large-cap financials sentiment and positioning.
Limited direct global spillover beyond broader confidence in major bank profitability and capital strength.
Counterpoint
Reported strength may be partially influenced by non-operating or fair-value items (e.g., Visa-related gains noted), so core credit trends could be less favorable than headline net income suggests.
Key entities
- issuerJPMorgan Chase & Co.
Reports 2Q26 consolidated financial highlights, EPS, credit-loss provision, and capital ratios in an SEC 8-K earnings supplement.
- corporate_actionApple Card transaction
JPMorgan will become the new issuer of Apple Card; forward purchase commitment entered Dec 30, 2025 with expected closing about 24 months later.
- corporate_actionVisa exchange offer
The filing notes a net gain in Corporate related to Visa Class C common stock received after Visa accepted JPMorgan’s tender of Visa Class B-2 shares.
