Jeremy Barnum
Chief Financial Officer
Replay available
JP Morgan Chase & Co. (JPM) Q1 2026 Earnings Call
JP Morgan Chase & Co. (NYSE: JPM) Q1 2026 earnings conference call, held 2026-04-14. Replay captured from the company's public earnings webcast.
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Investor webinar replay
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Replay transcript excerpt
WEBVTT 00:00:01.364 -- 00:00:07.271 Good morning, ladies and gentlemen. Welcome to JPMorgan Chase's first quarter 2026 earnings 00:00:07.271 -- 00:00:12.277 call. This call is being recorded. Your line will be muted for the duration of the call. 00:00:12.277 -- 00:00:17.644 We will now go live to the presentation. The presentation is available on JPMorgan Chase's 00:00:17.644 -- 00:00:22.430 website. Please refer to the disclaimer in the back concerning forward-looking statements. 00:00:22.430 -- 00:00:27.770 Please stand by. At this time, I would like to turn the call over to JPMorgan Chase's 00:00:27.770 -- 00:00:32.438 Chairman and CEO, Jamie Dimon, and Chief Financial Officer, Jeremy Barnum. 00:00:32.438 -- 00:00:35.580 Mr. Barnum, please go ahead. 00:00:35.583 -- 00:00:38.267 Thank you very much, and good morning, everyone. 00:00:38.267 -- 00:00:43.436 This quarter, the firm reported net income of $16.5 billion and EPS of $5.94, 00:00:43.436 -- 00:00:47.568 with an ROGCE of 23%. 00:00:47.568 -- 00:00:52.835 Revenue of $50.5 billion was up 10% year-on-year, primarily driven by higher markets 00:00:52.835 -- 00:00:57.901 revenue, higher asset management and investment banking fees, and higher NII driven by 00:00:57.901 -- 00:01:03.168 the impact of balance sheet growth, predominantly offset by the impact of lower rates. 00:01:03.168 -- 00:01:08.274 Expenses of $26.9 billion were up 14% year-on-year, largely driven by 00:01:08.274 -- 00:01:13.541 higher compensation, including higher revenue-related compensation and growth in promised 00:01:13.541 -- 00:01:17.858 employees, as well as higher brokerage expense and distribution fees. 00:01:17.858 -- 00:01:23.084 The increase also reflects the absence of an FDIC special accrual lease 00:01:23.084 -- 00:01:28.209 in th...