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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
JPMorganChase
JPMorganChase (JPM) investor relations material
JPMorganChase Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary13 Oct, 2026
Executive summary
Net income was $15.3B, or $5.57 per share; excluding $658M of net investment securities losses, net income was $15.8B, EPS was $5.75 and ROTCE was 21%.
Managed revenue was $50.9B, up 8% YoY; reported revenue was $50.2B.
ROTCE was 20% reported; each line of business posted higher YoY revenue, while management said it was prepared for a wide range of outcomes.
Financial highlights
NII was $27.1B, up 13% YoY; NII excluding Markets was $24.7B, up 6%, and noninterest revenue was $23.8B, up 3%.
Noninterest revenue excluding Markets was $15.9B, up 7% YoY, or 12% excluding securities losses; Markets revenue was $10.3B, up 15%.
Expenses were $27.3B, up 12% YoY, driven by higher volume- and revenue-related costs, compensation, hiring, fees, marketing and technology.
Credit costs were $2.7B, including $2.2B of net charge-offs and a $539M net reserve build, versus prior-year provision of $3.4B.
Standardized RWA increased ~$52B, primarily from lending growth across banking, Markets and AWM, as well as higher energy prices and market volatility.
Outlook and guidance
Q4 NII excluding Markets is expected at ~$25.5B and total NII at ~$28B; FY26 implied NII excluding Markets is $97.2B and implied total NII is ~$106.2B.
Preliminary 2027 central case for NII excluding Markets is ~$107B, with significant uncertainty; roughly one-quarter of growth from the Q4 run rate reflects rate hikes in the forward curve.
Remaining 2027 NII growth assumption reflects balance-sheet growth and mix trends, including modest consumer deposit growth and continued card lending.
Q4 expenses are expected at ~$27.5B; FY26 implied adjusted expense is ~$108.6B, and the preliminary 2027 expense view is near current consensus of ~$114B.
Card Services net charge-off rate outlook is ~3.2%; Markets revenue typically declines seasonally from Q3 to Q4, with volatility making the outlook uncertain.
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Latest events from JPMorganChase
- Adjusted Q4 net income was $12.1B; FY24 NII outlook is ~$88B excluding Markets.JPM
Q4 2023 - CIB expects strong revenue growth, driven by innovation, disciplined expansion, and resilient credit quality.JPMBarclays 24th Annual Global Financial Services Conference
- Q2 2026 net income jumped 41% to $21.2B, led by Visa gains and robust segment growth.JPMQ2 2026
- Resilient consumer trends, strong loan growth, and AI-driven efficiencies support long-term expansion.JPMThe BancAnalysts Association of Boston Conference
- Bullish 2026 outlook driven by robust pipelines, sector focus, and tech-enabled growth.JPMUBS Financial Services Conference 2026
- Q3 2025 net income up 12% to $14.4B, with strong segment growth and record Markets revenue.JPMQ3 2025
- Q2 net income reached $18.1B, boosted by Visa gain and strong segment performance.JPMQ2 2024
- Q1 2025 net income rose 9% to $14.6B, with record Markets revenue and strong capital ratios.JPMQ1 2025
- Record net income, strong segment growth, and robust capital return mark a strong 2024 finish.JPMQ4 2024
Next JPMorganChase earnings date
The BancAnalysts Association of Boston Conference 20265 Nov, 2026
JPMorganChase
Next JPMorganChase earnings date
The BancAnalysts Association of Boston Conference 20265 Nov, 2026
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Frequently asked questions
One of the oldest and largest financial institutions in the world
JP Morgan Chase is a multinational investment bank and financial services company headquartered in New York City. The company was formed in 2000 through the merger of J.P. Morgan & Co. and Chase Manhattan Corporation.
The investment banking division
JPMorgan Chase generates a big part of its revenue through its investment banking services, which include advising on mergers and acquisitions, underwriting securities offerings, and managing assets for institutional and retail clients. The company's investment banking division is consistently ranked among the top performers in the industry, with JP Morgan Chase serving as a trusted advisor to some of the largest corporations in the world.
Retail services
JP Morgan Chase also operates a consumer banking division, offering a range of retail services such as checking and savings accounts, credit cards, mortgages, and auto loans. The company has a significant presence in the United States, with over 4,700 branches and 16,000 ATMs across the country.
Wealth management services to individuals and institutions
JP Morgan Chase's asset management division offers wealth management services to individuals and institutions. The company manages a wide range of assets, including equities, fixed income securities, and alternative investments. JP Morgan Chase's asset management division is one of the largest in the world, with over $3 trillion in assets under management.
JP Morgan Chase operates in a highly competitive financial services industry, with other public companies such as Bank of America, Wells Fargo, and Citigroup also offering similar services. JP Morgan Chase is known for its strong brand reputation and its focus on innovation, with the company investing heavily in technology to improve its services and stay ahead of the competition.
Interesting facts about JP Morgan Chase
JP Morgan Chase has a long history and a significant impact on the financial industry. The company's namesake, John Pierpont Morgan, was one of the most influential financiers in history, playing a pivotal role in the development of the modern financial system.
JP Morgan Chase has also been involved in some of the most significant financial transactions in history, including the financing of the construction of the Titanic and the merger of Exxon and Mobil.
The company is known for its corporate social responsibility initiatives, including investments in affordable housing and small business development.
JP Morgan Chase is also a significant employer, with over 250,000 employees worldwide. The company has been recognized for its commitment to diversity and inclusion, and its efforts to create a more equitable workplace.
Despite facing criticism over issues such as its role in the 2008 financial crisis and its ties to fossil fuel companies, JP Morgan Chase remains a leader in the financial services industry and continues to shape the future of finance through its innovative approach to technology and sustainability.