JPMorgan Chase Q1 2026 earnings: profit rises 13% as trading and dealmaking strengthen

May 1, 2026 · Published August 7, 2026

JPMorgan's net income rose 13% to about $16.5 billion in Q1 2026 as both lending income and fee businesses grew, even as the CEO flagged rising economic risks.

Figures as reported by the company to the SEC for the quarter ended March 31, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.

Key takeaways

• Net income climbed 13% from a year earlier to roughly $16.5 billion, continuing a stretch of strong quarterly profits for the bank.
• Total revenue rose about 10% from a year earlier, with growth coming from both interest earned on loans and fees from trading, investment banking, and other services.
• Net interest income - the money the bank earns from the gap between what it pays on deposits and collects on loans - rose 9% to about $25.4 billion, helped by higher deposit balances and higher trading-related interest income, partly offset by lower interest rates.
• Fee-based revenue grew 11%, lifted by higher asset-management fees, investment-banking fees, trading revenue, auto-lease income, and payments fees, showing strength outside of traditional lending.
• For the rest of 2026, JPMorgan trimmed its own full-year net interest income guidance to about $103 billion, down from its earlier outlook of about $104.5 billion, signaling it expects somewhat less benefit from lending margins going forward.
• Over the trailing twelve months, the bank kept a net profit margin near 33%, meaning roughly a third of every revenue dollar ultimately became profit after expenses and taxes - a high margin reflecting its mix of lending, trading, and fee-based businesses.
• Return on equity over the trailing twelve months was near 18%, a measure of how much profit the bank generates from shareholders’ invested capital, while per-share earnings grew nearly 20% over the same period.
• CEO Jamie Dimon described the U.S. economy as “resilient” during the quarter, pointing to continued spending and debt repayment by consumers and businesses.
• Dimon also cautioned about an “increasingly complex set of risks,” citing geopolitical tensions, energy-price volatility, trade uncertainty, large government deficits, elevated asset prices, and signs of weakening credit standards among some borrowers.

Q1 2026 in context

Figures for the quarter ended Mar 2026 and the quarter ended Mar 2025, as reported to the SEC.

How the stock took it

JPMorgan Chase & Co. closed at $313.23 on Apr 30, 2026, the last session before the report, and at $307.65 on May 4, 2026, the first session after it — -1.8% across the report.

Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.

Financial history →

Sources: company report · CNBC · verified fundamentals · company statement