JPMorgan Chase Reports Q3 2026 Earnings: EPS of $5.57 ($5.75 Adjusted) on $50.2B Revenue

Executive Summary

On October 13, 2026, JPMorgan Chase & Co. filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition), furnishing its financial results for the third quarter of 2026.

Key Financial Highlights

• Net Income & EPS: Reported net income of $15.3 billion, or $5.57 per share, compared to $14.4 billion, or $5.07 per share, in Q3 2025. Excluding after-tax discretionary investment securities losses of $498 million ($658 million pre-tax, -$0.18 EPS impact), adjusted net income reached $15.8 billion, or $5.75 per share.
• Revenue: Managed net revenue was $50.91 billion (up 8% YoY from $47.12 billion). Reported net revenue stood at $50.17 billion (up 8% YoY).
• Expenses: Noninterest expense was $27.30 billion, yielding a managed overhead ratio of 54%.
• Credit Costs & Provisions: Provision for credit losses totaled $2.7 billion, reflecting $2.2 billion in net charge-offs and a $539 million net reserve build.
• Profitability Ratios: Return on Equity (ROE) came in at 17%, and Return on Tangible Common Equity (ROTCE) was 20% (21% excluding the investment securities losses).

Balance Sheet & Capital Position

• Capital Ratios: Standardized CET1 capital ratio was 13.9% ($304 billion of CET1 capital), and the Advanced CET1 ratio was 14.1%. Supplementary Leverage Ratio (SLR) was 5.5%.
• Total Loss-Absorbing Capacity (TLAC): $599 billion.
• Book Value: Tangible book value per share rose 7% YoY to $112.64; book value per share increased 6% YoY to $132.30.
• Capital Distributions: The firm distributed $4.4 billion via common dividends ($1.65 per share) and executed $664 million in net share repurchases, reflecting a more selective capital deployment strategy.

Segment Performance Highlights

• Consumer & Community Banking (CCB): ROE of 36%. Average deposits grew 4% YoY; debit/credit card sales volume increased 10% YoY; active mobile customers grew 7% YoY.
• Commercial & Investment Bank (CIB): ROE of 18%. Total Markets revenue rose 15% YoY (Equity Markets up 49%, Fixed Income down 4%). Investment Banking fees grew 14% YoY, maintaining the #1 global wallet share rank at 9.2% YTD.
• Asset & Wealth Management (AWM): ROE of 45%. Assets Under Management (AUM) reached $5.2 trillion, up 13% YoY, supported by $263 billion of client asset net inflows in the quarter.