Reported net revenue increased 7% year-over-year to $45.8 billion in the fourth quarter. Managed net revenue was $46.8 billion, up 7%. The company had $4.4 trillion in assets and $362 billion in stockholders’ equity as of December 31, 2025.
Q4 net income decreased to $13.0 billion from $14.0 billion in the prior-year quarter. On a per-share basis, earnings per share declined to $4.63 from $4.81 in Q4 2024. Net interest income, excluding Markets, was $23.9 billion in the December quarter, up 4% from last year.
“Looking ahead, we remain committed to investing our capital to drive future growth, and the Apple Card is one example of patient and thoughtful deployment of our excess capital into attractive opportunities,” said Jamie Dimon, CEO of JPMorgan.