01—Abstract
Summary
Summary of the 10-Q filed May 1, 2026. Cited figures are marked; the original filing is the authoritative source.
JPMorgan Chase & Co. reported strong financial results for the first quarter of 2026, with net income increasing by 13% to $16.5 billiona, and diluted earnings per share rising 17% to $5.94.
Total net revenue saw a robust 10% increase to $49.8 billionb, driven by broad-based growth across both net interest income (up 9%) and noninterest revenue (up 11%). This performance was supported by higher asset management fees, investment banking fees, and contributions from Markets and Payments businesses. The firm maintained healthy profitability metrics, with Return on Common Equity (ROE) at 19% and Return on Tangible Common Equity (ROTCE) at 23%.
Despite a 14%c increase in noninterest expense, largely due to higher compensation and strategic investments, pre-provision profit still grew 6% year-over-year. The provision for credit losses significantly decreased by 24% due to a notable reduction in wholesale provision, though consumer credit losses, primarily from Card Services, remained a focus.
The firm's capital and liquidity positions remain strong, with a Common Equity Tier 1 (CET1) capital ratio of 14.3%d under the standardized approach and a Liquidity Coverage Ratio (LCR) of 112%. The firm also returned capital to shareholders through dividends and share repurchases.
02—Key points
Key Highlights
- Net income increased by 13% to $16.5 billion, driven by strong revenue growth.
- Total net revenue rose 10% to $49.8 billion, with Net Interest Income up 9% and Noninterest Revenue up 11%.
- Return on Common Equity (ROE) improved to 19%, and Return on Tangible Common Equity (ROTCE) reached 23%.
- Provision for credit losses decreased by 24% to $2.5 billion, reflecting improved wholesale credit quality.
- Noninterest expense increased 14%, driven by higher compensation, investments in technology and marketing.
- Common Equity Tier 1 (CET1) capital ratio remained strong at 14.3% (Standardized).
- Key business segments showed robust performance: Consumer & Community Banking (ROE 32%), Commercial & Investment Bank (ROE 21%), and Asset & Wealth Management (ROE 44%).
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 1, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Net Income | $16.49B$14.64B | +12.6% |
| EPS (Basic) | $5.95$5.08 | +17.1% |
| EPS (Diluted) | $5.94$5.07 | +17.2% |
| Shares Outstanding (Basic) | 2.72B2.82B | −3.7% |
| Shares Outstanding (Diluted) | 2.72B2.82B | −3.7% |
05—Questions
Frequently Asked Questions
What was JPMorgan Chase's net income for the first quarter of 2026?
JPMorgan Chase reported a net income of $16.5 billion for the first quarter of 2026.
How did total net revenue perform in Q1 2026 compared to Q1 2025?
Total net revenue increased by 10% to $49.8 billion in the first quarter of 2026, compared to $45.3 billion in the first quarter of 2025.
What drove the increase in noninterest expense?
The 14% increase in noninterest expense was primarily driven by higher compensation expense (including revenue-related compensation and employee growth), increased technology and marketing investments, higher brokerage expenses, and the absence of an FDIC special assessment accrual release recorded in the prior year.
How did the firm's capital position hold up in the quarter?
JPMorgan Chase maintained a strong capital position, with a Common Equity Tier 1 (CET1) capital ratio of 14.3% under the standardized approach as of March 31, 2026, and a Tier 1 capital ratio of 15.2%.
06—Continue