JPMorgan Chase reported second-quarter net revenue of over $57.3 billion, a 28% year-over-year increase that crushed analyst estimates of $50.6 billion. GAAP net income rose 41% to nearly $21.2 billion, or $7.70 per share, well above the $5.55 consensus. The commercial and investment bank led with a 27% revenue jump to nearly $24.9 billion, driven by a 45% surge in investment banking activities. Consumer and community banking revenue grew 8% to just under $20.3 billion, while asset and wealth management rose 19% to almost $6.9 billion, and the corporate division nearly quadrupled to more than $6 billion, boosted by a $4.6 billion gain from a Visa share exchange. All four business lines achieved all-time quarterly revenue records. The bank raised its 2026 net interest income guidance to roughly $96.5 billion excluding capital markets, but also increased its expense forecast to $107.5 billion, and CEO Jamie Dimon cautioned about geopolitical and economic risks.
JPMorgan Chase & CoRecord revenue and earnings beat across all business lines, raised NII guidance.
Visa Inc. Class AVisa share exchange contributed $4.6B gain to JPMorgan's corporate division revenue.