JPMorgan Chase 8-K
PositiveEarnings
Equity Markets surge and higher net interest income outweighed rising expenses; investment securities losses trimmed EPS.
Filed 2026-10-13 06:30 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results. Net income rose 6% Y/Y as higher revenue across the businesses more than offset higher expenses; $658M of investment securities losses reduced reported EPS by $0.18.
Key Figures
| Metric | 3Q26 | 9M26 |
|---|---|---|
| Reported net revenue | $50.2B, +8% Y/Y | $157.4B, +15% Y/Y |
| Managed net revenue, non-GAAP | $50.9B, +8% Y/Y | $159.5B, +15% Y/Y |
| Net income | $15.3B, +6% Y/Y | $53.0B, +20% Y/Y |
| Diluted EPS | $5.57, +10% Y/Y | $19.20, +25% Y/Y |
- Net interest income increased 13% to $27.1B; Markets revenue rose 15% to $10.3B, including Equity Markets up 49% and Fixed Income Markets down 4%. Consumer & Community Banking revenue rose 9%, Commercial & Investment Bank revenue 14%, and Asset & Wealth Management revenue 14%.
- Noninterest expense rose 12% to $27.3B. The $2.7B provision for credit losses included $2.2B of net charge-offs and a $539M net reserve build. Excluding the securities losses, net income was $15.8B, EPS $5.75 and ROTCE 21% (non-GAAP), versus reported $15.3B, $5.57 and 20%.
- Common dividends totaled $4.4B ($1.65/share); common stock net repurchases were $664M. The firm repurchased 3.1M shares, down from 28.0M Y/Y. Standardized CET1 was 13.9%, Advanced CET1 14.1%, and cash and marketable securities $1.5T.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch credit costs and reserve builds in the next quarter to assess whether the current provision and reserve-building pattern continues.
- Watch the pace of share repurchases and broader capital deployment after the firm reduced repurchases this quarter.
The summary is written by an AI model reading the filing.
Model 005 · prompt 8bef31e277