The Quarter in Brief
JPMorgan Chase reported its third quarter of 2026, the three months ended September 30, before the market opened on October 13. Reported net revenue was $50.17 billion, up 8% from a year earlier. Net income was $15.31 billion, up 6%, and earnings per share were $5.57, up 10% from $5.07. Leaving out a $658 million loss on investment securities that the bank calls a significant item, earnings were $5.75 a share.
That was below expectations on either measure: analysts had expected about $5.93 a share and about $51.23 billion of revenue, according to Financial Modeling Prep's consensus, against $50.91 billion on the "managed" basis the bank and analysts use. What made the quarter different was the gap between income and costs. Net interest income, what the bank earns on loans and securities less what it pays on deposits and borrowings, grew 13%, the fastest of the last eight quarters, and the bank raised its outlook for it. Expenses grew 12%, faster than revenue.