JPMorgan Chase Reports $21.2 Billion Quarterly Profit, $5.7 Billion of It From One-Time Gains

JPMorgan Chase reported second-quarter net income of $21.2 billion, a 41 percent increase from the year-ago quarter. Earnings per share reached $7.70, exceeding analyst estimates of $5.64. Total net revenue climbed 28 percent to $57 billion from $45 billion a year earlier.

A $4.6 billion net gain on the sale of Visa shares held by the corporate division and $1 billion in gains on equity investments lifted results. Excluding those one-time items, net income was $16.9 billion. Equity trading revenue rose 86 percent to a record $6 billion, while equity underwriting revenue increased 78 percent to $829 million.

Net interest income grew 10 percent to $25.5 billion. The bank raised its full-year 2026 guidance for net interest income, excluding the Markets business, by $1.5 billion to $96.6 billion. Combined debit and credit card sales volume rose 10 percent, and the firm lowered its 2026 card loan write-off expectation to 3.2 percent from the April projection of 3.4 percent.

He added that markets remain "very healthy, active, exuberant" with high prices and volumes, though he noted uncertainty about duration. In the press release he stated that geopolitical tensions, wars, sticky inflation and elevated asset prices make outcomes difficult to predict.

CFO Jeremy Barnum said on the call that the consumer appears "maybe slightly better this quarter" and that the labor market remains resilient.

He described the improvement as marginal rather than dramatic. @YahooFinance reported that the results open what analysts expect to be a strong earnings season for large banks, supported by increased Wall Street activity tied to capital raising for artificial intelligence projects.