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JPMorgan Chase (JPM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
JPMorgan Chase (JPM) reported revenue of $49.8B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +9% from the quarter before. Operating margin was 41.1%, net earnings $16.5B (33.1% of revenue).
JPMorgan Chase, Q1 2026: revenue $49.8B (+10% year over year), operating margin 41.1%, net earnings $16.5B, operating cash flow −$211.8B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $49.8B | +9% | +10% |
| Operating profit | $20.5B | +19% | +11% |
| Net earnings | $16.5B | +27% | +13% |
| Operating cash flow | −$211.8B | -277% | — |
What changed
Revenue was $49.8B in Q1 2026, up 10% year over year and up 9% from the previous quarter.
Operating profit was $20.5B, a 41.1% margin (up 0.5 points year over year). Of the extra revenue versus a year earlier, 46% reached operating profit, above the 41% margin then. Total costs grew 9% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+23%). Net earnings were $16.5B, up 13% year over year. The effective tax rate was 19.5%.
Operating cash flow was −$211.8B. Non-cash charges added back $2.4B of depreciation and amortization and $1.2B of share-based compensation. Working capital and other items used $231.8B.
Questions
What was JPMorgan Chase's revenue in the first quarter 2026?
JPMorgan Chase (JPM) reported revenue of $49.8B for the first quarter 2026 (Q1 2026), +10% from a year earlier and +9% from the quarter before.
Was JPMorgan Chase profitable in the first quarter 2026?
Operating profit was $20.5B (41.1% of revenue) and net earnings $16.5B.
Source: JPMorgan Chase 10-Q on SEC EDGAR.