On Tuesday, JPMorgan Chase & Co. (NYSE:JPM) kicked off the first-quarter 2026 earnings season with results that beat Wall Street expectations, driven by strong revenue growth and resilient consumer activity.
The bank reported net income of $16.5 billion, or $5.94 per share, up 17% from a year earlier. Adjusted earnings per share also came in at $5.94, surpassing analyst estimates of $5.45.
Managed net revenue rose to $50.5 billion, topping expectations of $49.2 billion.
Earnings Details
Net interest income, excluding Markets, increased 3% year over year to $23.3 billion, supported by higher deposit balances and increased revolving balances in card services.
Noninterest revenue, excluding Markets, climbed 14% to $15.7 billion, driven by asset management fees, auto lease income, and stronger payments and investment banking activity.
Markets revenue jumped 20% to $11.6 billion.
Loan and Deposit Growth
The firm posted a return on equity of 19% and a return on tangible common equity of 23%.
Average loans grew 11% year over year and 2% sequentially, while average deposits increased 7% year over year and 1% from the prior quarter.
Provision for credit losses was $2.51 billion. Net charge-offs totaled $2.3 billion, down slightly, while the net reserve build stood at $191 million.
JPMorgan returned $4.1 billion in common …