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AI brief of an SEC Form 8-K · JPMorgan Chase (JPM)

JPMorgan Chase Q4 net income falls 7% to $13.0 billion on $2.2 billion Apple card reserve

Mixed Impact 3 of 5 earnings Written later

JPMorgan Chase reported fourth-quarter 2025 net income of $13.0 billion, or $4.63 per diluted share, down from $14.0 billion, or $4.81 per share, a year earlier. The results include a $2.2 billion credit reserve for the forward purchase commitment of the Apple credit card portfolio; excluding that item, net income was $14.7 billion, or $5.23 per share, while managed net revenue rose 7% to $46.8 billion.

Key points

  • Q4 2025 net income $13.0 billion, down 7% year over year; diluted EPS $4.63, down 4%
  • Apple credit card reserve of $2.2 billion reduced EPS by $0.60; excluding it, net income was $14.7 billion ($5.23 per share)
  • Managed net revenue $46.8 billion, up 7%; noninterest expense $24.0 billion, up 5%
  • Full-year 2025 net income $57.0 billion ($20.02 per share); quarterly dividend $1.50 per share

The filing

CompanyJPMorgan Chase (JPM)
Form8-K, current report
Filed with the SECJan 13, 2026, 6:41 AM ET
Accession number0001628280-26-001902

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 13, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.