JPMorgan Chase Faces Net Interest Income Test in Q2 Earnings Report
JPMorgan Chase is set to report its Q2 2026 earnings on July 14, 2026. The consensus estimate for EPS is $5.50-$5.59, representing a 8% to 13% YoY growth compared to Q2 2025's $4.96-$5.24. Revenue is expected to be between $49.16B and $51.09B.
Net interest income (NII) will be the key metric for analysts, with management guiding the bank to deliver $103B of full-year 2026 NII ($95B excluding markets). In Q1 '26, JPM booked $25.4B of NII, on target to meet management's forecast.
JPM has beaten estimates in four out of its last five earnings reports, including a recent Q1 '26 report where the company posted EPS of $5.94, compared to a consensus of $5.50, on revenue of $50.54B (+10% YoY). However, the Basel III G-SIB capital requirement will be an additional headwind for JPM, requiring an approximately $20B hit to its ability to repurchase shares and pay dividends.
The company's crypto portfolio, including its BlackRock IBIT holdings of 8.3 million shares of the Bitcoin Spot ETF, is also expected to be a point of focus during the earnings call. JPM has increased its BlackRock IBIT holdings by 175%, and is now allowing other mid-tier asset managers, consultants, and pension funds to follow with the precedent of their balance sheet.