JP MORGAN CHASE(US:JPM) Zhi Tong Cai Jing·2026-01-13 13:21Group 1 - The core point of the article highlights that JPMorgan Chase's investment banking revenue unexpectedly declined in Q4, failing to meet the bank's previous performance guidance [1] - JPMorgan reported a Q4 revenue of $46.77 billion, a 7% year-over-year increase, exceeding market expectations by $520 million, with a Non-GAAP EPS of $5.23, surpassing estimates by $0.37 [1][2] - The bank's investment banking revenue for Q4 was $2.35 billion, down 5% year-over-year, contrary to the previous expectation of low single-digit percentage growth [1][2] Group 2 - The decline in investment banking performance was primarily due to a surprising 2% drop in bond underwriting revenue, while analysts had anticipated a 19% increase [1][2] - JPMorgan's trading revenue reached $8.24 billion in Q4, exceeding analyst expectations, with both equity and fixed income trading departments outperforming market forecasts [2] - The bank's net interest income rose 7% year-over-year to $25.1 billion, supported by a 3% increase in loan balances to $1.5 trillion [2] Group 3 - JPMorgan set aside $2.2 billion for credit losses related to its new partnership with Apple, which will replace Goldman Sachs as the credit card partner [3] - The total provision for potential bad loans increased by $2.1 billion in the last three months of the year, aligning with market expectations [3]