JPMorgan Crushes Q2 Estimates with $21.2B in Net Income and $7.70 EPS, Lifts Full-Year NII Forecast
JPM sits 22% above its 52-week low of $279.1 on light trading volume (0.3× avg).
Summary
JPMorgan reported Q2 2026 net income of $21.2 billion ($7.70 EPS), crushing estimates on broad-based revenue strength, and raised its full-year net interest income outlook to ~$105.5 billion.
Key Events · Earnings and Guidance · JPM
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Q2 Earnings Blowout
Net income of $21.2B ($7.70 EPS) beat consensus by a wide margin, up 41% YoY. Excluding one-time gains, net income was $16.9B ($6.14 EPS).
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Revenue Surge Across All Businesses
Managed revenue hit a record $58.0B, up 27% YoY. NII rose 10% to $25.6B, Markets revenue jumped 35% to $12.1B, and IB fees climbed 30%.
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Full-Year NII Outlook Raised
Management now expects FY2026 NII of ~$105.5B, up from prior guidance, reflecting confidence in loan growth and deposit dynamics.
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Fortress Balance Sheet and Capital Returns
CET1 ratio of 14.1% (Standardized). Returned $10.2B to shareholders via $4.0B in common dividends and $6.2B in net repurchases.
Analysis · JPM · Finance
A massive Q2 beat underscores JPMorgan's widening competitive moat, as net income surged 41% year-over-year to $21.2 billion, or $7.70 per share, on record managed revenue of $58.0 billion. The results were boosted by a $4.6 billion net gain on Visa shares and $1.0 billion in equity investment gains, but even excluding those one-time items, net income of $16.9 billion and EPS of $6.14 handily exceeded consensus. Broad strength shone through the core banking franchise: net interest income rose 10% to $25.6 billion, Markets revenue jumped 35% to $12.1 billion, and Investment Banking fees climbed 30%. Signaling confidence in sustained loan growth and deposit pricing, the firm raised its full-year net interest income outlook to approximately $105.5 billion. Capital returns remain aggressive—$6.2 billion in net repurchases and a $1.50 per share dividend—while CET1 capital held at a fortress-like 14.1%. The only blemish is a modest uptick in adjusted expense guidance to ~$107.5 billion, driven by higher volume- and revenue-related costs, but that is a high-quality problem given the revenue outperformance. This filing confirms the firm is firing on all cylinders.
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At the time of this filing, JPM was trading at $340.76 on NYSE in the Finance sector, with a market capitalization of approximately $912.8B. The 52-week trading range was $279.10 to $343.45. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.