Overview
- JPMorgan reported fourth-quarter net income of $13 billion, or $4.63 per share, after recording a $2.2 billion credit-loss provision linked to acquiring the Apple Card portfolio from Goldman Sachs.
- Excluding that one-time item, quarterly profit rose to $14.7 billion, or $5.23 per share, beating the $4.85 consensus estimate.
- Firmwide revenue grew 7% to $45.8 billion and net interest income increased 7% to $25.1 billion, with payments revenue hitting a record $5.1 billion.
- For 2025, net income came in at $57 billion as annual revenue reached an all-time high of $182 billion, marking the bank’s second-best year for profit.
- Guidance for 2026 calls for about $105 billion in expenses and roughly $95 billion in net interest income, with credit-card profitability facing uncertainty from a proposed 10% rate cap by President Trump that analysts question.