Q2 26 EPS
$7.70
BEAT +32.76%
Est. $5.80
Q2 26 Revenue
$57.35B
BEAT +11.78%
Est. $51.30B
Market Reaction
Did JPM Beat Earnings? Q2 2026 Results
JPMorgan Chase delivered a blowout second quarter, posting earnings of $7.70 per diluted share against a consensus estimate of $5.80, a beat of 32.76%, while revenue of $57.35 billion topped expectations of $51.30 billion by 11.78%. The headline numb… Read more JPMorgan Chase delivered a blowout second quarter, posting earnings of $7.70 per diluted share against a consensus estimate of $5.80, a beat of 32.76%, while revenue of $57.35 billion topped expectations of $51.30 billion by 11.78%. The headline numbers were substantially lifted by a $4.60 billion net gain tied to a Visa Class C share exchange offer, though even stripping out that item and $1.00 billion in equity investment gains, adjusted EPS of $6.14 represented a 13% year-over-year increase with a return on tangible common equity of 23%. The Commercial and Investment Bank was the engine of organic strength, with net revenue surging 27% to $24.85 billion; equity markets revenue alone jumped 86% to $6.03 billion, and investment banking fees climbed 30% to $3.30 billion. Asset and Wealth Management added further momentum, with AUM reaching $5.14 trillion on strong net inflows. Analysts had broadly anticipated a strong quarter for JPMorgan given resilient capital markets activity and favorable net interest income trends heading into the print.
Key Takeaways
- • Elevated market activity driving 35% Markets revenue growth, with Equity Markets up 86%
- • Investment Banking fees up 30% to highest level since 2021, driven by strong equity underwriting up 78%
- • Higher revolving Card Services balances driving 12% Card Services & Auto revenue growth
- • Card annual fees grew more than 30% reflecting product refreshes and premium product demand
- • AUM growth to $5.1 trillion driven by higher market levels and $50 billion of long-term AUM net inflows
- • Net interest income up 10% driven by higher deposit balances, revolving balances, and wholesale loan balances
- • Payments revenue up 12% driven by higher deposit balances and fee growth
- • Average loans up 10% YoY and average deposits up 7% YoY
- • Asset management fees up 16% to $4.2 billion on higher average market levels and strong net inflows
- • Advisory revenue of $1.0 billion up 20% YoY
- • Assets under custody of $44.9 trillion, up 18% YoY
JPM YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
JPM Revenue by Segment
With YoY comparisons, source: SEC Filings
“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. These results were the product of a particularly favorable environment with an elevated level of market activity, as well as rigorous execution, years of consistent investment and thoughtful capital deployment.”
— Jamie Dimon, Q2 2026 Earnings Press Release
JPM Earnings Trends
JPM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
JPM EPS Trend
Earnings per share: estimate vs actual
JPM Revenue Trend
Quarterly revenue: estimate vs actual
JPM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $5.80 | $7.70 | +32.76% | $57.35B | +11.78% |
| Q1 26 BEAT | $5.51 | $5.94 | +7.78% | $49.84B | +1.90% |
| Q4 25 MISS FY | $4.86 | $4.63 | -4.64% | $45.80B | -0.97% |
| FY Full Year | $20.01 | $20.02 | +0.07% | $182.45B | -0.26% |
| Q3 25 BEAT | $4.87 | $5.07 | +4.01% | $46.43B | +1.87% |
| Q2 25 BEAT | $4.47 | $5.24 | +17.27% | $44.91B | +2.11% |
| Q1 25 BEAT | $4.65 | $5.07 | +9.15% | $45.31B | +2.65% |