JPMorganChase (JPM) investor relations material

Executive summary

• Net income for Q2 2026 was $21.2B ($7.70/share), or $16.9B ($6.14/share) excluding significant items, reflecting robust performance across all business lines.

• Managed revenue reached a record $58.0B, up 27% year-over-year, with each segment achieving new highs.

• Strong performance was driven by equity markets, asset management, and elevated client engagement.

• Expenses rose 15% year-over-year to $27.3B, mainly due to higher compensation, technology costs, and labor inflation.

• Credit costs totaled $2.5B, with net charge-offs of $2.4B and a net reserve build of $149M.

Financial highlights

• Net interest income was $25.6B, up 10% year-over-year; noninterest revenue was $32.4B, up 45% year-over-year.

• Average loans grew 10% year-over-year to $1.5T; average deposits rose 7% to $2.7T.

• CET1 capital ratio stood at 14.1% (Standardized) and 14.2% (Advanced); tangible book value per share was $113.35.

• Common dividend of $1.50 per share; $6.2B in net stock repurchases; net payout ratio of 73% LTM.

• Book value per share $133.01 (up 9%).

Outlook and guidance

• FY2026 net interest income expected at $105.5B, or $96.5B excluding Markets, both market dependent.

• Adjusted expense outlook raised to $107.5B, reflecting higher volume and revenue-related expenses.

• Card net charge-off rate projected at 3.2% for FY2026.

• Management highlighted risks from geopolitical tensions, inflation, and asset prices, and is preparing for a wide range of scenarios.

• Dividend to increase to $1.65 per share in Q3.