JPMorgan Chase & Co. disclosed its second quarter 2026 financial results on July 14, 2026, reporting net income of $21.2 billion, or $7.70 per share, a substantial increase compared with net income of $15.0 billion, or $5.24 per share, in the second quarter of 2025. The results represent a significant year-over-year improvement in both headline earnings and per-share profitability, drawing attention from investors and market observers tracking the performance of the largest U.S. bank by assets. The announcement was made public on July 14, 2026, with full earnings release materials and a financial supplement attached as exhibits to the disclosure. For holders of VYLD, the Inverse VIX Short-Term Futures ETNs due March 22, 2045 — guaranteed by JPMorgan Chase Financial Company LLC — this update from the parent guarantor provides important context on the financial condition underpinning that guarantee.

Key Points

  • NASDAQ: VYLD — Inverse VIX Short-Term Futures ETNs due March 22, 2045, guaranteed by JPMorgan Chase Financial Company LLC, a subsidiary of JPMorgan Chase & Co.
  • JPMorgan Chase & Co. reported Q2 2026 net income of $21.2 billion, or $7.70 per diluted share, versus $15.0 billion, or $5.24 per share, in Q2 2025.
  • The earnings results were reported on July 14, 2026; full financial details are included in Exhibit 99.1 and financial supplement Exhibit 99.2 attached to the disclosure.
  • Investors may be watching the implications of the parent company's financial condition for the guarantee backing the VYLD ETNs and other structured products listed across NYSE and NYSE Arca.

JPMorgan Chase Q2 2026 Earnings: Net Income Climbs to $21.2 Billion

JPMorgan Chase & Co. disclosed on July 14, 2026, that it generated net income of $21.2 billion in the second quarter of 2026. This compares directly with the $15.0 billion net income reported for the second quarter of 2025, representing a meaningful increase in absolute dollar terms for the period. The disclosure was signed by Elena Korablina, Managing Director and Firmwide Controller, serving as the Principal Accounting Officer of the firm.

On a per-share basis, the firm reported earnings of $7.70 per share for the second quarter of 2026, up from $5.24 per share in the comparable prior-year period. The year-over-year improvement in both total net income and earnings per share underscores a strong quarterly result for the firm. Detailed financial statements supporting these headline figures are contained within the earnings release and financial supplement filed as exhibits alongside the announcement.

VYLD ETN Guarantee and JPMorgan Chase Financial Company LLC's Role

VYLD, which trades on NYSE Arca, Inc., represents the Inverse VIX Short-Term Futures Exchange-Traded Notes due March 22, 2045. These notes are issued by JPMorgan Chase Financial Company LLC, a subsidiary entity, and are backed by a guarantee from the parent company, JPMorgan Chase & Co. The guarantee structure means that JPMorgan Chase & Co.'s financial condition is directly relevant to the credit quality and operational standing of the VYLD product.

The July 14, 2026 disclosure lists VYLD among the securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, confirming its continued registration status. The filing notes that JPMorgan Chase Financial Company LLC is the issuer of the ETNs, while JPMorgan Chase & Co. acts as guarantor, a structure that ties the parent firm's earnings disclosures directly to the product's underpinnings. Investors holding VYLD may consider the parent company's reported financial results as relevant background for understanding the guarantee's strength.

Broader Portfolio of Guaranteed Securities Disclosed Alongside VYLD

The July 14, 2026 announcement covers not only VYLD but also a broader range of securities that JPMorgan Chase & Co. has registered under Section 12(b) of the Exchange Act. Alongside the Inverse VIX Short-Term Futures ETNs, the disclosure lists the Alerian MLP Index ETNs due January 28, 2044, trading under the symbol AMJB on NYSE Arca, and Callable Fixed Rate Notes due June 10, 2032, trading under JPM/32 on the New York Stock Exchange. All three are guaranteed by JPMorgan Chase & Co. and issued by JPMorgan Chase Financial Company LLC.

Additionally, the disclosure lists several series of Non-Cumulative Preferred Stock depositary shares trading on the New York Stock Exchange, including Series DD (5.75%), Series EE (6.00%), Series GG (4.75%), Series JJ (4.55%), Series LL (4.625%), and Series MM (4.20%). These preferred securities, along with the firm's common stock trading under JPM on the NYSE, represent the full registered securities portfolio covered by this financial results announcement. The breadth of securities listed illustrates the scale of JPMorgan Chase & Co.'s capital structure across multiple exchanges.

Year-Over-Year Earnings Per Share Comparison Highlights Growth

The jump in earnings per share from $5.24 in Q2 2025 to $7.70 in Q2 2026 represents one of the more notable data points disclosed in the announcement. While the filing does not provide a breakdown of revenue lines, business segment contributions, or the specific drivers of the earnings improvement, the headline figures are contained within the earnings release attached as Exhibit 99.1. Investors and analysts seeking granular detail on net interest income, non-interest revenue, credit costs, or capital ratios would need to reference those exhibits directly.

The firm did not provide forward guidance figures within the body of the current report itself. The disclosure notes that the attached earnings release and financial supplement contain the full detail of the second quarter results. The improvement in both net income and earnings per share between the two comparable quarters is presented as a factual disclosure, with no management commentary embedded within the current report filing beyond what is reflected in the exhibit attachments.

Forward-Looking Statement Disclosures and Risk Factors Referenced

The announcement includes a standard forward-looking statement disclaimer, noting that certain statements contained within the report and its exhibits reflect beliefs and expectations of JPMorgan Chase's management and are subject to significant risks and uncertainties. The disclosure explicitly states that actual results may differ materially from those described in any forward-looking statements included in the materials.

The filing directs investors to JPMorgan Chase & Co.'s Annual Report for the year ended December 31, 2025, and the Quarterly Report for the quarter ended March 31, 2026, for a fuller description of factors that could cause results to differ from forward-looking statements. Both of those reports have been filed with the Securities and Exchange Commission and are available on the SEC's website as well as on JPMorgan Chase's investor relations web portal. The firm states it does not undertake to update any forward-looking statements following their initial publication.

Delaware Incorporation and Regulatory Filing Details

JPMorgan Chase & Co. is incorporated in the state of Delaware and lists its principal executive offices at 270 Park Avenue, New York, New York 10017. The firm's I.R.S. employer identification number is 13-2624428, and its Commission File Number is 1-5805. These details are reported as part of the standard cover page information required under the Securities Exchange Act of 1934.

The filing confirms that JPMorgan Chase & Co. is not classified as an emerging growth company under Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. This classification is relevant because it means the firm is subject to the full range of financial reporting and disclosure requirements applicable to large accelerated filers, without any extended transition periods for adopting new or revised accounting standards.

Exhibits Filed: Earnings Release and Financial Supplement

The announcement includes four exhibits filed alongside the current report. Exhibit 99.1 contains the full text of JPMorgan Chase & Co.'s earnings release for the second quarter of 2026, providing investors with the complete quarterly financial results narrative. Exhibit 99.2 contains the earnings release financial supplement for the same period, which typically provides a more granular breakdown of financial data across business lines and balance sheet items, though the specific contents of that supplement are not reproduced within the body of the filing itself.

The disclosure also references Exhibit 101, which contains the cover page formatted in Inline XBRL (Inline eXtensible Business Reporting Language) pursuant to Rule 406 of Regulation S-T, and Exhibit 104, the Cover Page Interactive Data File embedded within the Inline XBRL document. The filing states that each of the exhibits provided shall be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, which has implications for the legal status and potential liability associated with the information contained therein.

Signing Authority and Principal Accounting Officer

The current report was signed on July 14, 2026, by Elena Korablina, identified in the disclosure as Managing Director and Firmwide Controller, holding the title of Principal Accounting Officer of JPMorgan Chase & Co. The signature block confirms that the report was duly authorized on behalf of the registrant in accordance with the requirements of the Securities Exchange Act of 1934. No other signatories are listed in the filing.

The Principal Accounting Officer's signature on a current report covering earnings results is standard practice for large public companies, confirming the authenticity and authorization of the filing. The disclosure does not include any management commentary, CEO statement, or CFO remarks within the body of the current report itself, with all qualitative context deferred to the attached earnings release exhibit rather than the main filing document.

Implications for VYLD Holders Given Parent Guarantor's Q2 2026 Results

For holders of VYLD — the Inverse VIX Short-Term Futures ETNs due March 22, 2045 — the financial health of JPMorgan Chase & Co. as guarantor is a structural consideration embedded in the product's design. The ETNs are issued by JPMorgan Chase Financial Company LLC, but the parent company's guarantee provides the underlying credit support for the notes. The disclosure of a substantial increase in net income at the parent level, from $15.0 billion in Q2 2025 to $21.2 billion in Q2 2026, represents a positive data point in assessing the financial condition of that guarantor, though it does not speak to the performance of the ETN product itself or the underlying index it references.

Investors may be watching how the broader financial results of JPMorgan Chase & Co. interact with the credit risk profile of its guaranteed structured products. The announcement does not contain any changes to the terms, maturity, or structure of the VYLD ETNs. The immediate share price impact was not clear from available public information. Any assessment of the VYLD product's risk and return profile requires review of the full ETN prospectus, the underlying Inverse VIX Short-Term Futures index methodology, and the complete financial supplement disclosed in Exhibit 99.2.