JPMorgan Chase said Tuesday that it earned $16.9 billion in the second quarter as its equities trading division again took advantage of market volatility triggered by the war in Iran.
Next photo FILE - In this Monday, Oct. 21, 2013, file photo, the JPMorgan Chase & Co. logo is displayed at their headquarters in New York.
FILE - Jamie Dimon, CEO of JPMorgan Chase, speaks at the America Business Forum, Nov. 6, 2025, in Miami. FILE- In this May 17, 2018, file photo the logo for Wells Fargo appears above a trading post on the floor of the New York Stock Exchange. FILE - The Bank of America logo is seen on a branch office, Oct. 14, 2022, in Boston.
FILE - In this Monday, Oct. 21, 2013, file photo, the JPMorgan Chase & Co. logo is displayed at their headquarters in New York. – JPMorgan Chase said Tuesday that it logged $16.9 billion in second-quarter profit as its equities trading division again took advantage of market volatility triggered by theThe nation's largest bank by asset size, JPMorgan said that revenue in every line of its business hit record levels in the quarter, including its markets division, where revenue grew 35% over the same period last year.
Revenue in its equity markets division skyrocketed 86%. JPMorgan earned $6.14 per share in the period, beating analyst estimates of $5.59 per share and 2025's $5.24. Managed revenue came in at $58 billion, also topping the estimates of analysts surveyed by FactSet. CEO Jamie Dimon said that revenue from the New York bank's investment banking division rose 30%, accelerating to the highest level since 2021 as the thirst for initial public offerings and mergers and acquisitions remained strong.
Investment research analysts are forecasting that both merger and acquisitions and IPOs to continue at a blistering pace through 2026. While volatile markets can cause anxiety for individual investors, high-speed Wall Street trading desks can take advantage of the wild gyrations. Big swings in markets tend to increase activity on trading desks, leading to higher commissions and fee revenue for the banks.
Wells Fargo also reported its second-quarter results on Tuesday, posting a 22% jump in net income over the same period last year. Wells said it earned $6.4 billion in the period, or $2 per share, up from $5.5 billion a year ago. Revenue of $22.6 billion also topped estimates. Wells CEO Charlie Scharf said the San Francisco bank was benefiting from a strong economy and its newly unleashed ability to invest after years of government oversight.
Wells’ said its investment banking revenue grew 20% from last year and markets revenue was up 24%.
“After years of not being on a level playing field with our competitors because we couldn’t grow our balance sheet, we are carefully deploying capital to grow and support our clients by taking risks that we think are prudent through economic cycles, not just the strong environment we see today,” Scharf said. Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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JPMorgan Chase profit hits $16.9 billion in the second quarter, boosted again by market volatilityJPMorgan Chase said Tuesday that it earned $16.9 billion in the second quarter as its equities trading division again took advantage of market volatility triggered by the war in Iran.
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JPMorgan Chase profit hits $16.9 billion in the second quarter, boosted again by market volatilityJPMorgan Chase said Tuesday that it earned $16.9 billion in the second quarter as its equities trading division again took advantage of market volatility triggered by the war in Iran.
Read more »