JPMorgan Chase Reports Record $16.9 Billion Quarterly Profit

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

Investment banking revenue climbed 30 percent 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 linked elevated trading volumes to market swings after U.S.

And Israel strikes on Iran began in late February. Wells Fargo reported net income of $6.6 billion, up 22 percent 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. Global M&A announcements rose 64 percent year-over-year while closings increased 33 percent, Morgan Stanley data showed. 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 total. SpaceX's $75 billion offering led activity, followed by SK Hynix's additional $26.5 billion 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.