JPMorgan Chase Reports Record Quarterly Profit on $58 Billion Revenue

JPMorgan Chase reported net income of $16.9 billion, or $6.14 per share, for the second quarter of 2026 on managed revenue of $58 billion. Revenue in every business line reached record levels. Markets division revenue rose 35 percent from a year earlier, with equities trading revenue increasing 86 percent.

Investment banking revenue rose 30 percent year-over-year to the highest quarterly total since 2021.

CEO Jamie Dimon said the results reflected continued demand for initial public offerings and mergers and acquisitions. The bank attributed elevated trading volumes to market swings following the start of U.S. and Israel strikes on Iran in late February.

Wells Fargo reported net income of $6.6 billion, a 22 percent increase from $5.5 billion a year earlier. CEO Charlie Scharf said the bank is now deploying capital more freely after years of regulatory restrictions. Goldman Sachs earned $6.6 billion, or $20.98 per share, on $20.3 billion in revenue. Bank of America posted profit of $9.2 billion in the same quarter of 2025.

Global M&A announcements rose 64 percent year-over-year in the quarter while closings increased 33 percent, according to Morgan Stanley. Deals of $10 billion or larger accounted for 43 percent of announced volume. The firm projects full-year 2026 M&A announcements will reach $6.4 trillion.

Renaissance Capital reported that 48 IPOs raised nearly $105 billion in the quarter, a record, led by SpaceX's $75 billion offering. SK Hynix raised an additional $26.5 billion in its listing on July 10.

JPMorgan shares fell 2.4 percent in premarket trading, Wells Fargo declined 1.9 percent, Bank of America lost 1.3 percent and Goldman Sachs rose 4 percent.