JPMorgan's profit rises 6% to $15.3 billion as buybacks fall to $664 million

JPMorgan Chase reported third-quarter 2026 net income of $15.3 billion, or $5.57 a share, up 6% from a year earlier, as net interest income rose 13% and revenue rose 8% to $50.2 billion. The largest U.S. bank cut quarterly share repurchases to $664 million and added $539 million to credit-loss reserves, according to the earnings release filed with the SEC on October 13.

Reported revenue of $50.2 billion compared with $46.4 billion a year earlier, and managed revenue was $50.9 billion. Net income fell 28% from the second quarter, when results included $4.6 billion of net gains tied to Visa shares and $1.0 billion of gains on equity investments.

Revenue gains across the businesses

Net interest income of $27.1 billion rose 13% from a year earlier, and net interest income excluding Markets was $24.7 billion, up 6%. Markets revenue climbed 15% to $10.3 billion, led by a 49% increase in equity trading, while fixed income revenue declined 4%.

Investment banking fees were $3.0 billion, up 14% from a year earlier and down 8% from the second quarter, which the release attributes predominantly to higher advisory fees. Consumer and community banking revenue rose 9% to $21.2 billion, with card services net charge-offs at 2.91%, and asset and wealth management revenue rose 14% to $6.9 billion as assets under management reached $5.2 trillion.

The corporate segment posted a net loss of $455 million, compared with net income of $825 million a year earlier, reflecting $658 million of net investment securities losses and lower net interest income.

Credit, capital and a smaller buyback

The provision for credit losses was $2.7 billion, up from $2.5 billion in the second quarter and below the $3.4 billion recorded a year earlier, and the net reserve build was $539 million. Standardized common equity Tier 1 capital stood at 13.9% of risk-weighted assets, down from 14.1% at midyear.

Return on common equity was 17%, and return on tangible common equity was 20%. Excluding the securities loss, the firm reported net income of $15.8 billion, or $5.75 a share, and a return on tangible common equity of 21%.

Net share repurchases fell to $664 million from $6.2 billion in the second quarter, and the firm paid a common dividend of $4.4 billion, or $1.65 a share. “In line with our hierarchy, we reduced share repurchases this quarter,” Chief Executive Jamie Dimon said in the release. “We believe we can deploy this capital over time at very attractive returns for our shareholders.”

What the call may clarify

The release does not restate the firm's full-year net interest income or expense guidance, and management's latest views on deposit costs, credit conditions and capital deployment arrive on a call scheduled for 8:30 a.m. Eastern. Third-quarter figures for the quarter ended September 30, 2026 are unaudited and stated on a reported basis unless labeled as managed or as excluding the $658 million securities loss.