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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Ebrahim Poonawala | Bank of America | 15 questions · 13% challenging |
| Erika Najarian | UBS | 15 questions · 27% challenging |
| John McDonald | Truist Securities | 15 questions · 7% challenging |
| Gerard Cassidy | RBC Capital Markets | 15 questions · 7% challenging |
| Mike Mayo | Wells Fargo | 13 questions · 38% challenging |
| Jim Mitchell | Seaport Research Partners | 13 questions · 8% challenging |
| Ken Usdin | Autonomous Research | 12 questions · 0% challenging |
| Glenn Schorr | Evercore ISI | 10 questions · 20% challenging |
| Matt O'Connor | Deutsche Bank | 10 questions · 20% challenging |
| Betsy Graseck | Morgan Stanley | 9 questions · 11% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 analyst | 15 questions · 27% challenging |
| Bank of America | 1 analyst | 15 questions · 13% challenging |
| Truist Securities | 1 analyst | 15 questions · 7% challenging |
| RBC Capital Markets | 1 analyst | 15 questions · 7% challenging |
| Morgan Stanley | 2 analysts | 14 questions · 7% challenging |
| Seaport Research Partners | 1 analyst | 13 questions · 8% challenging |
| Wells Fargo | 1 analyst | 13 questions · 38% challenging |
| Autonomous Research | 1 analyst | 12 questions · 0% challenging |
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JPMorgan reported Q1 revenue of $50.5 billion, up 10% year-on-year, with EPS of $5.94 and an ROTCE of 23%. Growth was led by the CIB, where revenue of $23.4 billion rose 19% on fixed income up 21%, equities up 17%, and investment banking fees up 28% driven by M&A and equity underwriting. CCB revenue of $19.6 billion grew 7% with consumer spend continuing above last year's pace, while expenses of $26.9 billion climbed 14% on higher revenue-related compensation and front office growth. Management reiterated the full-year 2026 outlook across the board: NII ex Markets of about $95 billion, total NII of about $103 billion, adjusted expenses of about $105 billion, and a Card net charge-off rate of approximately 3.4%. The principal negative was regulatory, with the Basel III endgame and G-SIB reproposals pointing to a 5.2% surcharge in 2028, 70 basis points above the current 4.5%, and roughly $20 billion of incremental G-SIB capital.
Calendar quarter Q1 2026Earnings call Apr 14, 2026
FY2026 Q1 in brief
JPMorgan reported Q1 revenue of $50.5 billion, up 10% year-on-year, with EPS of $5.94 and an ROTCE of 23%.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for JPMorgan Chase & Co. (JPM), FY2026 Q1: 6/10. Scores: JPMorgan Chase & Co.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: JPM daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Demand | Competitive Dynamics | Credit | Regulation Policy | Macroeconomic | Margin | Capital Allocation | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 3 | 1 | 2 | 4 | 2 | 4 | |
| 2025Q1 | 6 | 3 | 4 | 4 | 10 | 2 | 1 | |
| 2025Q2 | 10 | 9 | 3 | 4 | 2 | 4 | 4 | 3 |
| 2025Q3 | 4 | 4 | 6 | 3 | 2 | 3 | 2 | 1 |
| 2025Q4 | 6 | 4 | 3 | 7 | 1 | 3 | 2 | 3 |
| 2026Q1 | 5 | 5 | 7 | 4 | 3 | 2 | 5 | 3 |
| 2026Q2 | 2 | 1 | 1 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 3 | 6 | 10 | 4 | 6 | 5 | 2 |
| Competitive Dynamics | 3 | 3 | 9 | 4 | 4 | 5 | 1 |
| Credit | 1 | 4 | 3 | 6 | 3 | 7 | 1 |
| Regulation Policy | 2 | 4 | 4 | 3 | 7 | 4 | |
| Macroeconomic | 4 | 10 | 2 | 2 | 1 | 3 | 1 |
| Margin | 2 | 2 | 4 | 3 | 3 | 2 | 2 |
| Capital Allocation | 4 | 1 | 4 | 2 | 2 | 5 | |
| Innovation & R&D | 3 | 1 | 3 | 3 |
GAAP revenue YoY +6.90% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Net margin |
|---|---|---|---|---|---|
| FY2024 Q4 | $42.77B | +10.9% | $4.81 | +58.2% | 32.7% |
| FY2025 Q1 | $45.31B | +8.1% | $5.07 | +14.2% | 32.3% |
| FY2025 Q2 | $44.91B | -10.5% | $5.24 | -14.4% | 33.4% |
| FY2025 Q3 | $46.43B | +8.8% | $5.07 | +16.0% | 31.0% |
| FY2025 Q4 | $45.80B | +7.1% | $4.63 | -3.7% | 28.4% |
| FY2026 Q1Selected | $49.84B | +10.0% | $5.94 | +17.2% | 33.1% |
| FY2026 Q2 | $57.35B | +27.7% | $7.70 | +46.9% | 36.9% |
| FY2026 Q3 | $50.17B | +8.1% | $5.57 | +9.9% | 30.5% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What JPM said about other companies on its FY2026 Q1 call, and what other companies said about JPM on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“MongoDB continues to power a wide range of workloads, including high-volume transactional systems, real-time applications and emerging AI workloads across multiple lines of business at JPMorgan Chase, the world's largest financial institution.”
JPMorgan Chase runs high-volume transactional, real-time and emerging AI workloads on MongoDB across multiple lines of business, a signal on the bank's continued application modernization and AI adoption.
“JPMorgan Payments and Worldpay are signed, launching later this year.”
Klarna says JPMorgan Payments is a signed distribution partner launching later in the year, a signal for JPMorgan's merchant-acquiring platform adding Klarna.
“In September of that same year, we opportunistically sold the loan via a special purpose entity to JPMorgan.”
SoFi described opportunistically selling a senior secured loan to JPMorgan via a special-purpose entity in September 2024, with JPMorgan as the loan buyer.
“a competitor in the annual report, JPMorgan put out that they are planning to reduce some of the friction on brokerage cash”
An analyst notes JPMorgan signaled plans to reduce friction on brokerage cash, framing a competitive dynamic in wealth cash management that Morgan Stanley is also navigating.
“investors have been rather focused on an announcement that JPMorgan has made in rolling out a product to reduce the friction around brokerage cash.”
An analyst notes JPMorgan is rolling out a product to reduce friction around brokerage cash, a competitive dynamic for Schwab's sweep-cash economics.
“So we've talked about is that what we've moved toward, as we have this new agreement with Chase, is very much industry standard.”
Southwest references a new loyalty/co-brand card agreement with Chase (JPMorgan) that standardizes its air-traffic-liability accounting; signal on the Chase co-brand relationship.
“So we have JPMorgan that continues to ramp.”
JPMorgan continues ramping on ICE's mortgage servicing platform, a customer signal on the bank's mortgage operations.
“we also have our financial services business performing well with the addition of Chase and other marquee clients.”
Assurant added Chase (JPMorgan) as a financial-services client, contributing to growth in that segment.
“Our discussions with Visa, Chase and American Express are going well, and we still expect to have new deals in place later this year.”
Marriott is renegotiating co-branded credit card deals with Chase (JPMorgan), supporting Chase's card-issuing partnership with Marriott Bonvoy.
“We just signed JPMorgan and BVNK agreements, to speed the addition of blockchain rails to our global settlement network.”
Corpay signed an agreement with JPMorgan to add blockchain settlement rails to its cross-border global settlement network, positioning JPMorgan as a fiat-tokenization/blockchain partner.
“And we're working with Chase. They're a great partner and run a really sophisticated program, which is required by United given the size and magnitude of our co-brand portfolio.”
Management praises the Chase co-brand relationship while noting the contract expiration is approaching, constructive backdrop for renewal negotiations with JPMorgan.
“While we continue to work under a long-term co-brand contract with our partners from Chase, we're making changes to what we can control today. In due course, we expect to have a new contract optimized for all stakeholders to the current market dynamics.”
United signals it wants a renegotiated co-brand card contract with Chase, the existing JPMorgan co-brand economics may be reset when the deal expires.
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| JPMJPMorgan Chase & Co. | 6 | +6.9% | JPMorgan reported Q1 revenue of $50.5 billion, up 10% year-on-year, with EPS of $5.94 and an ROTCE of 23% | |
| BACBank of America | 7 | +7.0% | Bank of America started FY2026 with revenue up 7%, record EPS, and 290 basis points of operating leverage as NII reached $15.9 billion, up 9% year-over-year | |
| BNYBNY Mellon | 9 | +2.2% | BNY Mellon delivered record Q1 FY2026 revenue of $5.4 billion with 13% year-over-year growth and 833 basis points of positive operating leverage | |
| CCitigroup | 8 | +7.0% | Citi delivered sharply higher revenues up 14% with EPS of $3.06 and a 13.1% RoTCE, well above expectations | |
| WFCWells Fargo | 6 | +7.3% | Wells Fargo delivered Q1 diluted EPS growth of 15% on revenue increasing 6% with broad-based growth across all segments, as loans exceeded $1 trillion and pre-tax pre-provision profit grew 14% |
JPMorgan reported Q1 revenue of $50.5 billion, up 10% year-on-year, with EPS of $5.94 and an ROTCE of 23%
Bank of America started FY2026 with revenue up 7%, record EPS, and 290 basis points of operating leverage as NII reached $15.9 billion, up 9% year-over-year
BNY Mellon delivered record Q1 FY2026 revenue of $5.4 billion with 13% year-over-year growth and 833 basis points of positive operating leverage
Citi delivered sharply higher revenues up 14% with EPS of $3.06 and a 13.1% RoTCE, well above expectations
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| JPM | 8 | 6 | 6 | 7 | 5 | 6 |
| BAC | 7 | 7 | 6 | 8 | 7 | 7 |
| BNY | 9 | 7 | 9 | 9 | 8 | 9 |
| C | 6 | 6 | 7 | 8 | 7 | 8 |
| WFC | 6 | 5 | 5 | 7 | 8 | 6 |
Wells Fargo delivered Q1 diluted EPS growth of 15% on revenue increasing 6% with broad-based growth across all segments, as loans exceeded $1 trillion and pre-tax pre-provision profit grew 14%