"Records Across the Board": JPMorgan Reports 41% Increase in Quarterly Profit

JPMorgan, the largest U.S. bank by market capitalization, reported record second-quarter earnings for 2026—up year-over-year—thanks to revenue from trading operations; its stake in Visa shares also increased by 41%, to $21.2 billion.

JPMorgan CEO Jamie Dimon highlighted an unusual statistic, according to CNBC: last quarter, all of the bank’s major business segments posted record revenue. “Performance was strong across the entire company, and revenue in every business segment reached a new record,” he said.

— JPMorgan’s net income in the second quarter of 2026 jumped 41% compared with the same period last year, to $21.2 billion. However, excluding major one-time factors, this metric showed much more modest results in April–June, according to the bank’s press release—a 13% year-over-year increase. Among these one-time factors, JPMorgan cited a $4.6 billion gain related to the bank’s long-term investments in Visa shares (which have risen by nearly 15% over the past three months).

— Meanwhile, the bank's quarterly net revenue totaled $58 billion, up 27% year-over-year, or 15% excluding one-time factors.

— Equity trading volume in the second quarter rose 86% compared with the same period last year, to $6.03 billion. This exceeded even the highest expectations of analysts surveyed by Bloomberg and brought JPMorgan’s total trading revenue to a record $12.1 billion in the bank’s history.

— At the same time, JPMorgan's quarterly expenses for April–June totaled $27.3 billion—more than expected, according to Bloomberg.

— The bank also raised its full-year expense forecast to approximately $107.5 billion. JPMorgan attributed this move “primarily to higher transaction-related expenses, driven by business activity and the outpacing growth of related revenue.” The new estimates for expected expenses are higher than those Dimon announced in May, Bloomberg notes (at that time, the bank’s CEO said that JPMorgan would likely spend $1 billion more in 2026 than top management had expected a month earlier: the company’s total annual expenses were then estimated to be “closer” to $106 billion).

JPMorgan shares rose by about 1% in premarket trading on July 14 following the release of its quarterly results, but then reversed course and were down 2.42% at the time of publication. Nevertheless, they are still up 3.8% year-to-date.

This article is being updated

This article was AI-translated and verified by a human editor