JP MORGAN CHASE(JPM) - 2026 Q1 - Quarterly Results

Financial Performance - Total net revenue for Q1 2026 was $49,836 million, representing a 9% increase from Q4 2025 and a 10% increase from Q1 2025[5]. - Net income for Q1 2026 reached $16,494 million, a 27% increase compared to Q4 2025 and a 13% increase compared to Q1 2025[5]. - Earnings per share (EPS) for Q1 2026 was $5.95, up 28% from $4.64 in Q4 2025 and 17% from $5.08 in Q1 2025[5]. - Net revenue for the quarter was $50,536 million, an 8% increase from $46,767 million in Q4 2025 and a 10% increase from $46,014 million in Q1 2025[9]. - Net income rose to $16,494 million, a 27% increase from $13,025 million in Q4 2025 and a 13% increase from $14,643 million in Q1 2025[9]. - Total net revenue for Q1 2026 was $50,536 million, an increase of 8% compared to Q1 2025[27]. - Net income for Q1 2026 reached $16,494 million, a 27% increase from Q1 2025[27]. - Total net revenue for Q1 2026 reached $23,379 million, a 21% increase from Q4 2025 and a 19% increase from Q1 2025[54]. - Net income for Q1 2026 was $9,044 million, reflecting a 24% increase from Q4 2025 and a 30% increase from Q1 2025[54]. - Total net revenue for Q1 2026 was $6.374 billion, a decrease of 2% from Q4 2025 but an increase of 11% year-over-year[72]. - Net income for Q1 2026 was $1.775 billion, down 2% from Q4 2025, but up 12% compared to Q1 2025[72]. Expenses and Provisions - The provision for credit losses decreased to $2,507 million, down 46% from $4,655 million in Q4 2025 and 24% from $3,403 million in Q1 2025[5]. - Total noninterest expense for Q1 2026 was $26,850 million, a 12% increase from Q4 2025 and a 14% increase from Q1 2025[5]. - Compensation expense increased by 17% to $15.339 billion compared to Q4 2025[12]. - Total noninterest expense was $11,136 million, a 24% increase from Q4 2025[54]. - Noninterest expense totaled $4.167 billion, a 2% increase from Q4 2025 and a 12% increase year-over-year[72]. - The total allowance for credit losses increased by 1% to $31,097 million, up from $30,942 million in the previous quarter, marking a 13% increase year-over-year[90]. Assets and Liabilities - Total assets increased to $4,900,475 million, up 11% from $4,424,900 million in 4Q25 and 12% from $4,357,856 million in 1Q25[9]. - Total liabilities reached $4,536,437 million, marking a 12% increase from $4,062,462 million year-over-year[16]. - Total assets as of March 31, 2026, were $656,051 million, a 1% decrease from Q4 2025 but a 3% increase from Q1 2025[42]. - Total assets increased to $299.179 billion in Q1 2026, reflecting a 4% increase from Q4 2025 and a 16% increase year-over-year[75]. Capital and Equity - The common equity Tier 1 (CET1) capital ratio was 14.3% as of Q1 2026, down from 14.6% in Q4 2025[5]. - Total stockholders' equity rose to $364,038 million, a 4% increase from $362,438 million quarter-over-quarter[16]. - Common stockholders' equity increased to $343,993 million, a 4% increase from $331,375 million in the previous year[32]. - Total tangible common equity rose to $291,708 million, a 5% increase from $278,905 million in the previous year[32]. Loans and Deposits - Total loans reached $1,503,520 million, a 1% increase from $1,493,429 million in 4Q25 and an 11% increase from $1,355,695 million in 1Q25[9]. - Total deposits grew to $2,675,520 million, reflecting a 5% increase from $2,559,320 million in 4Q25 and a 7% increase from $2,495,877 million in 1Q25[9]. - Total loans increased to $643,939 million, a 2% increase from Q4 2025 and an 18% increase from Q1 2025[59]. - Total deposits rose to $41,173 million, a 15% increase from Q4 2025 and a 64% increase from Q1 2025[79]. Return on Equity - The return on common equity (ROE) for Q1 2026 was 19%, up from 15% in Q4 2025[5]. - The return on equity (ROE) for Q1 2026 was 32%, up from 25% in Q4 2025[37]. - The return on equity (ROE) remained stable at 44% in Q1 2026, consistent with Q4 2025[72]. Shareholder Actions - Cash dividends declared per share remained at $1.50, unchanged from Q4 2025, and increased from $1.40 in Q1 2025[5]. - The company repurchased 27.5 million shares of common stock at an average price of $302.75 per share[35]. - The company authorized a common share repurchase program of up to $50 billion, effective July 1, 2025[35]. Customer Metrics - Active digital customers reached 76,246 thousand, a 2% increase from 74,646 thousand in the previous quarter[50]. - Total payments transaction volume was $1.8 trillion, unchanged from the previous quarter and a 13% increase year-over-year[50]. - The number of branches increased to 5,095, a 2% rise from 5,083 in the previous quarter[50]. - The number of client advisors increased to 10,353, up 2% from Q4 2025 and up 7% year-over-year[77].