JPMorgan reports $57B net income, acquires Apple Card, raises 2026 NII guidance to $103B

Filed February 12, 2026 · Period ending December 31, 2025 · Compared to 10-K Feb 13, 2025 · ~2 min read

Key Changes

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  JPMorgan announced a forward purchase commitment to acquire the Apple credit card portfolio, expected to close in approximately 24 months. The Firm reserved $2.2 billion in allowance for this transaction.

  MD&A: Apple Card transaction verify on EDGAR →
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  Management raised 2026 net interest income guidance to approximately $103 billion (from $94 billion for 2025) and NII excluding Markets to approximately $95 billion (from $90 billion), signaling confidence in balance sheet growth and rate positioning.

  MD&A: 2026 outlook verify on EDGAR →
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  Provision for credit losses jumped 33% to $14.2 billion, driven by $9.8 billion in net charge-offs (up $1.2 billion) and a $4.4 billion allowance build, including $2.2 billion for the Apple Card acquisition.

  MD&A: Provision for credit losses verify on EDGAR →