JPMorgan News: Q2 Profit of $21.2 Billion Includes Visa Share Gain

NEW YORK — JPMorgan Chase & Co. reported second-quarter 2026 net income of $21.2 billion on July 14, 2026, up 41% from $15.0 billion a year earlier, though the headline JPMorgan news came with an important qualifier. Excluding two significant items, led by a gain on Visa shares, net income was $16.9 billion, an increase of 13%.

Diluted earnings per share were $7.70 as reported, up 47%, and $6.14 excluding the significant items, up 13%. Reported revenue rose 28% to $57.3 billion, and managed revenue was $58.0 billion. Return on tangible common equity was 29% as reported and 23% excluding the items.

The Visa gain and other significant items

The release identified two significant items totaling $5.6 billion before tax, or $4.2 billion after tax. The larger was a $4.6 billion net gain related to Visa shares, recorded in the Corporate segment. It arose from an exchange offer in which Visa accepted the firm’s tender of 18.6 million Class B-2 shares in return for Class B-3 and Class C shares, with the gain recognized on the Class C shares held at fair value.

The second item was $1.0 billion of gains on certain equity investments, split between $763 million in Corporate and $263 million in the Commercial & Investment Bank. Together the items added $1.56 to reported EPS.

For readers comparing quarters, the adjusted figures are the more useful baseline. On that basis, JPMorgan’s earnings growth of 13% matched the pace of its first quarter.

JPMorgan news from the trading floor

The Commercial & Investment Bank earned $9.7 billion, up 46%, on revenue of $24.9 billion, up 27%. Markets revenue rose 35% to $12.1 billion. The split was striking: equities revenue jumped 86% to $6.0 billion, while fixed income rose 6% to $6.1 billion. Equities trading, in other words, nearly matched fixed income in size for the quarter.

Investment banking fees increased 30% to $3.3 billion, extending the recovery in deal activity that was visible in the first quarter.

Consumer and wealth

Consumer & Community Banking earned $5.3 billion, up 3%, on revenue of $20.3 billion, up 8%. Asset & Wealth Management earned $2.0 billion, up 33%, on revenue of $6.9 billion, up 19%.

The consumer business grew revenue faster than earnings, which suggests higher costs or credit charges absorbed part of the gain. The wealth business showed the opposite pattern, with earnings rising faster than revenue.

Credit and capital

The provision for credit losses was $2.5 billion, including $2.4 billion of net charge-offs and a net reserve build of $149 million, similar in scale to the first quarter.

The standardized CET1 ratio was 14.1%. The firm paid $4.0 billion in common dividends at $1.50 per share and repurchased $6.2 billion of stock. Total assets reached $5.0 trillion as of June 30, 2026.

Chairman and chief executive Jamie Dimon pointed to “very strong results in the quarter.”

What the quarter says for investment bank news

The quarter arrived three weeks after the Federal Reserve’s stress test, which left JPMorgan’s stress capital buffer at 2.5% and preceded the bank’s announcement of a higher dividend and a new $50 billion buyback beginning July 1. The second-quarter figures therefore show the capital position from which that program starts. A CET1 ratio of 14.1%, slightly lower than the 14.3% reported at the end of the first quarter, still sits well above the bank’s requirement.

The equities surge is the clearest industry signal. An 86% increase at the largest U.S. bank indicates exceptionally active stock trading by institutional clients during the quarter, a pattern that showed up in peers’ results the same week.

What to watch

Third-quarter results will show the first full quarter under the new buyback authorization and the higher dividend. Readers should also watch whether equities trading revenue can hold near these levels, whether the consumer segment’s earnings growth improves, and whether the modest reserve builds continue.