| JPM |
Report |
EPS (adjusted) |
BEAT |
pred ~$5.78 vs. cons $5.61 |
MEDIUM |
| JPM |
Report |
Markets/Trading Revenue |
BEAT |
pred ~$10.8B vs. cons $10.0B |
MEDIUM |
| JPM |
Report |
Net Interest Income (NII) |
IN-LINE |
pred ~$25.4B vs. cons $25.6B |
MEDIUM |
| JPM |
Guide |
FY2026 Total NII guidance |
UNCHANGED |
guide ~$103B vs. cons/prior guide $103B (FY2026) |
MEDIUM |
| JPM |
Guide |
FY2026 Adjusted Expense guidance |
LOWER |
guide ~$106.5B vs. prior guide $105B (FY2026) |
MEDIUM |
| JPM |
Guide |
Card Net Charge-off rate guidance |
UNCHANGED |
guide ~3.4% vs. prior guide 3.4% (FY2026) |
HIGH |
| JPM |
Guide |
CET1 ratio / capital return tone |
BETTER |
pred ~14.5% vs. prior 14.3% (Q2 2026, ~$40B+ excess capital) |
LOW |
| JPM |
Return |
Day-1 residual (stock − beta × S&P 500) |
-0.9% |
— |
MEDIUM |
| JPM |
Return |
5-day cumulative residual |
-2.0% (FADE) |
Whisper numbers already run above the $5.61 EPS/‑9.8% NII consensus, and the stock has rallied ~15% into the print at premium multiples, so even a genuine trading/IB beat is largely pre-priced (UBS's 'mess' warning). Expenses are the swing factor: Dimon's 'not a promise' framing plus stronger revenue-linked comp implies FY26 adjusted expense guidance nudges above the prior $105B, which sell-side models will read through to trim implied full-year operating leverage/EPS even after a Q2 beat. Absent a clear NII/guide raise or succession clarity, analysts likely shave out-period estimates modestly, and Basel III/G-SIB capital-rule uncertainty caps upside to buyback-driven re-rating, producing a fade rather than follow-through. |
MEDIUM |