← 2026-10-14 edition · Sourced reporting
Published Oct 14, 2026, 11:32 AM Central · This version Oct 14, 2026, 11:32 AM Central · As of 2026-10-14
JPMorgan’s $15.8 billion profit figure leaves out a securities loss
JPMorgan reported $15.3 billion in third-quarter net income on October 13. Its $15.8 billion adjusted figure excludes $498 million in after-tax investment securities losses. Both numbers describe the same quarter under different treatments. [1] [2]
Read the original earnings tables and the reported-to-adjusted reconciliation in note 2(d). →JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
- 1 source record
- JPMorgan Chase & Co.
Still open: JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation. All open questions ↓
Reporting question · As of 2026-10-14
The question: Why does JPMorgan give two different profit figures for the same quarter?
JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
Third quarter 2026 · billion US dollars
Company-reported income; adjusted income is non-GAAP. Rounded totals, not household wealth or an economy-wide measure.
Archive photograph · 2021-04-02 · San Francisco, California
Understand the story.
Start with the reported profit
The larger number is an adjusted result. JPMorgan’s reported net income was $15.3 billion; the $15.8 billion figure removes a securities loss. Reading both keeps the adjustment visible. [1] [2]
The loss is still part of the quarter
The excluded investment loss was $658 million before tax and $498 million after tax. The bank’s reconciliation shows exactly which cost the adjusted presentation removes. [2] [4]
Credit costs tell a different story
The bank also reports credit costs covering charge-offs and a reserve build. Those components describe a different accounting issue from the securities loss. Read them separately before drawing a conclusion about lending or borrowers. [3] [4]
How we know4 scoped claims · 1 source recordView evidence
Each claim keeps its full assertion, date, source passage and limits. Source counts describe records, not independent corroboration.
1.Reported and adjusted incomeSupported
JPMorgan reports third-quarter 2026 net income of $15.3 billion, or $5.57 per share, and $15.8 billion, or $5.75 per share, excluding a significant item.
- Scope
- JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
- Evidence passage
- Earnings release page 1 headline; page 6 note 2(d).
- As of
- 2026-10-14
- Limit
- Company-reported results; adjusted measures are non-GAAP. Dollar figures are rounded.
Retrieved 2026-10-14T15:56:31.689Z · JPMorgan Chase & Co.
JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
2.What the adjustment excludesSupported
The release identifies $658 million of net investment securities losses before tax and $498 million after tax, with an $0.18 per-share effect.
- Scope
- JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
- Evidence passage
- Earnings release page 1 Significant Item; page 6 note 2(d); page 7 note 10.
- As of
- 2026-10-14
- Limit
- Before-tax and after-tax losses are different measures. Rounded profit figures differ by about $0.5 billion.
Retrieved 2026-10-14T15:56:31.689Z · JPMorgan Chase & Co.
JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
3.Losses and reserves are differentSupported
JPMorgan reports $2.7 billion of credit costs, including $2.2 billion of net charge-offs and a $539 million net reserve build.
- Scope
- JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
- Evidence passage
- Earnings release page 1 Firmwide Metrics; page 2 credit provision discussion.
- As of
- 2026-10-14
- Limit
- Net charge-offs and reserve changes are different accounting components; figures are rounded.
Retrieved 2026-10-14T15:56:31.689Z · JPMorgan Chase & Co.
JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
4.The company’s accounting boundarySupported
JPMorgan explains that reported results follow U.S. GAAP and that managed and adjusted measures are non-GAAP measures used by management.
- Scope
- JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
- Evidence passage
- Earnings release page 6 Notes on non-GAAP financial measures, paragraphs (a) and (d).
- As of
- 2026-10-14
- Limit
- One bank’s disclosures do not independently measure the whole economy.
Retrieved 2026-10-14T15:56:31.689Z · JPMorgan Chase & Co.
JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
What remains open.
- JPMorgan’s October 13 third-quarter 2026 earnings release, company-reported financial results. Adjusted profit is a non-GAAP measure; these results do not establish household finances, market expectations or an investment recommendation.
A new official record, correction or material change would trigger a new captured revision and reconciliation of the affected claims.
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