Strong quarterly results significantly exceeded expectations, driven primarily by investment and operating efficiency leading to broad-based growth, with EPS up 25% YoY to $2.
Key data: EPS $2 (+25%), revenue growth of 9%, average loans and deposits up 12% and 10% respectively.
Business progress: Revenue growth across all business lines, new credit card accounts up 46%, auto loans up 41%, investment banking at record levels, market share gains, digital users reaching 33.7 million.
Guidance and outlook: Maintains full-year NII of $50bn±, expenses of $55.7bn, expects stronger NII in the second half, RoTCE target of 17-18% achievable.
Key signals: Management's confidence in the growth strategy is increasing, but warns of the need for caution regarding excessive risk-taking.
Q1 2026April 14, 2026
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FinancialsⓘFY2019 · Source: SEC EDGAR 10-K
4y revenue CAGR -1% · latest net margin 23.2%
Revenue$85.1B
Rev. YoY-1.6%
Gross margin—
Net margin23.2%
Net income$19.7B
Free cash flow—
Operating cash flow$6.73B
ROE10.5%
Source: SEC EDGAR company filings (10-K). Foreign issuers (20-F/IFRS) not yet covered.