Jpmorgan Chase & Stock Earnings Reports

JPMorgan Chase reported strong 1Q26 results: net income $16.5B, EPS $5.94, ROTCE 23%, and revenue $50.5B (up 10% y/y) driven by higher Markets, Asset Management, Investment Banking fees and NII. Expenses rose 14% y/y to $26.9B (compensation and revenue-related pay the main drivers). Credit costs were $2.5B with net charge-offs $2.3B and a modest reserve build. Segment highlights: Consumer & Community Banking (CCB) net income $5B with stable consumer resilience and deposits up ~2%; Corporate & Investment Bank (CIB) net income $9B with IB fees +28% y/y and strong Markets performance; Asset & Wealth Management (AWM) net income $1.8B with long-term net inflows $54B and AUM $4.8T. Outlook: NII ex-Markets expected ~ $95B, total NII ~ $103B (market NII down), adjusted expenses ~ $105B, and card net charge-off rate ~3.4%. Management flagged significant concerns about the Basel III “endgame” and G‑SIB reproposals — estimating RWA and surcharge increases that could drive roughly $20B of additional G‑SIB capital on JPMorgan’s current balance sheet (planning for a 5.2% surcharge in 2028 versus 4.5% today). Markets-driven balance sheet growth was seasonal and low risk-density but contributed to higher standardized RWA and a CET1 ratio of 14.3%. Management views private credit losses as unlikely to be systemic, while urging caution on underwriting and noting potential credit-cycle stress. They also highlighted AI-related product experimentation (potential deposit competition) and reiterated cyber/AI as a top operational risk. Capital management: the firm has substantial excess capital today (~$40B) and prefers deploying capital to serve clients, while noting regulatory outcomes could change the calculus.