JPMorgan Chase & Co. (JPM) Announced Q2 2026 Earnings on July 14, 2026, Reporting "net income of $16.9 billion"

JPMorgan Chase & Co. reported second quarter 2026 "net income of $16.9 billion", "EPS of $6.14", and an "ROTCE of 23%". Excluding significant items, quarter revenue was up 15% year-on-year.

Expenses for the quarter of $27.3 billion were up 15% year-on-year.

Credit costs for the quarter were $2.5 billion, featuring net charge-offs of $2.4 billion and a net reserve build of $149 million.

The standardized CET1 ratio ended the quarter at 14.1%.

Management also highlighted that the Board intends to increase the quarterly dividend to $1.65 per share effective in the third quarter.

Management discussed key business and leadership updates, including the elevation of Doug and Troy to co-Presidents.

Executives highlighted artificial intelligence as a major strategic priority, noting there are almost 1,000 use cases today across risk, fraud, marketing, hedging, and prospecting.

They anticipate that AI will bring huge efficiency to certain parts of the firm and noted they are preparing for meaningful acceleration in token expense in the second half of the year. On the consumer side, the firm refreshed the Sapphire Preferred card and outlined its European consumer banking aspirations.

Management noted Chase U.K. has almost 3 million or 2.5 million customers, the firm has opened in Berlin, and they hold the dream of a pan-European successful digital bank.

Management also mentioned testing a Smart Cash tool to compete for investment and deposit business.

For the full year 2026 outlook, the firm now expects net interest income excluding markets to be about $96.5 billion and total net interest income to be approximately $105.5 billion.

The new adjusted expense outlook for the full year is about $107.5 billion, driven primarily by higher volume and revenue-related expenses.

Additionally, management expects the card net charge-off rate to be approximately 3.2% reflecting better-than-expected consumer credit performance.