JPMorgan Chase reports $16.9 billion profit in second quarter
9 reported
JPMorgan Chase reported $16.9 billion in second-quarter profit on Tuesday, driven by its equities trading division capitalizing on market volatility linked to the war in Iran. The bank said revenue hit record levels across all business lines, with its markets division revenue growing 35% year-over-year and equity markets revenue surging 86%. CEO Jamie Dimon noted that investment banking revenue rose 30%, reaching its highest level since 2021, fueled by strong demand for initial public offerings and mergers and acquisitions. JPMorgan earned $6.14 per share, beating analyst estimates of $5.59, while managed revenue of $58 billion also topped forecasts. JPMorgan shares fell 2.4% before the opening bell. Other major banks, including Wells Fargo, Goldman Sachs, and Bank of America, also reported strong second-quarter results that exceeded Wall Street expectations.
What’s reported
JPMorgan Chase earned $16.9 billion in second-quarter profit.
Revenue in every business line hit record levels, with markets division revenue up 35% year-over-year and equity markets revenue up 86%.
JPMorgan earned $6.14 per share, beating analyst estimates of $5.59 and 2025's $5.24.
Managed revenue was $58 billion, topping FactSet analyst estimates.
JPMorgan shares fell 2.4% before the opening bell.
CEO Jamie Dimon said investment banking revenue rose 30%, the highest since 2021.
Global M&A announcements in Q2 2026 were up 64% year-over-year, with closings up 33%, according to Morgan Stanley.
48 IPOs raised a quarterly record of nearly $105 billion, per Renaissance Capital, with SpaceX’s offering bringing in $75 billion.
Wells Fargo reported $6.4 billion profit, up 22% year-over-year; Goldman Sachs earned $6.6 billion; Bank of America profit rose to $9.1 billion, up 27%.
Key figures
Jamie Dimon, CEO of JPMorgan Chase
Charlie Scharf, CEO of Wells Fargo
FactSet (analyst survey firm)
Morgan Stanley (investment bank)
Renaissance Capital (IPO research firm)
Sources: abcnews.com
