JPMorgan Q1 revenue up 10%, NII guidance $103B; expenses rise 14% on comp and tech

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~1 min read

Key Changes

• high

  Revenue grew 10% to $49.8B driven by Markets, investment banking fees (+31%), and asset management fees (+17%). Net income rose 13% to $16.5B; EPS up 17% to $5.94.

  MD&A: Financial Performance verify on EDGAR →
• high

  Management guided full-year 2026 NII to ~$103B and adjusted expenses to ~$105B, both market-dependent. Card Services net charge-off rate expected at 3.4%.

  MD&A: Outlook verify on EDGAR →
• high

  Expenses jumped 14% to $26.9B on higher compensation (revenue-related and headcount growth), marketing, tech investments, and auto lease depreciation. Prior-year FDIC special assessment release absent.

  MD&A: Noninterest Expense verify on EDGAR →