SKN | JPMorgan and Bank of America Show Diverging Revenue Trends as Quarterly Performance Separates

Key Takeaways:

• JPMorgan Chase reported $76.2 billion in Q3 2026 revenue, compared with $47.8 billion for Bank of America, maintaining a substantial difference in reported business volume.
• JPMorgan’s revenue increased from $67 billion in Q4 2024 to $76.2 billion in Q3 2026, while Bank of America’s quarterly revenue remained within a narrower range of approximately $46.7 billion to $49.7 billion.
• The comparison highlights different revenue trajectories, making business diversification, lending activity, investment banking and non-interest income important areas for evaluating each institution’s performance.

Bank of America and JPMorgan Chase continue to demonstrate different revenue trajectories, according to the latest eight-quarter comparison published by The Motley Fool. JPMorgan has maintained a substantially higher revenue base and recorded considerable expansion during the period, while Bank of America’s reported quarterly revenue has remained comparatively stable. The figures provide insight into the different operating scales of two major US banking institutions and the importance of examining revenue composition when assessing their financial performance.

JPMorgan Maintains a Higher Revenue Base

JPMorgan Chase reported $76.2 billion in revenue for the third quarter of 2026, compared with $47.8 billion for Bank of America. The difference reflects JPMorgan’s larger reported revenue base across its diversified banking and financial services operations.

JPMorgan’s revenue increased from $67 billion in the fourth quarter of 2024 to $68.9 billion in the first quarter of 2025 and $71.9 billion in the third quarter of 2025. It subsequently reached $73.7 billion in the first quarter of 2026 before rising to $82.5 billion in the second quarter and moderating to $76.2 billion in the third quarter.

Although the latest quarterly figure declined from the preceding period, it remained above every reported quarter in 2024 and 2025 within the comparison.

Bank of America Demonstrates a More Stable Revenue Pattern

Bank of America’s quarterly revenue followed a narrower range over the same eight-quarter period. The bank reported $47 billion in both the fourth quarter of 2024 and first quarter of 2025, followed by $46.7 billion in the second quarter and $48.2 billion in the third quarter of 2025.

Revenue reached $49.7 billion in the fourth quarter of 2025, before moderating to $47.9 billion in the first quarter of 2026 and increasing to $49.4 billion in the second quarter. The third-quarter figure subsequently declined to $47.8 billion.

This pattern indicates a comparatively stable reported revenue base rather than the larger sequential expansion recorded by JPMorgan. However, revenue stability alone does not establish differences in profitability, operating efficiency or risk-adjusted performance.

Revenue Composition Matters When Comparing Major Banks

The Motley Fool comparison uses a standardized revenue measure defined as interest income plus non-interest income, without deducting interest expense. This distinction is important because the figures represent a broad measure of business volume rather than net interest income or net revenue after funding costs.

Both institutions operate across multiple financial services activities. Bank of America’s business includes consumer banking, wealth management and global corporate lending, while JPMorgan operates across retail banking, commercial and investment banking, and institutional asset management. Their revenue figures therefore reflect different combinations of lending, deposits, trading, investment services and other activities.

What Investors Should Monitor in Future Results

The eight-quarter comparison highlights JPMorgan’s larger revenue scale and Bank of America’s relatively consistent reported revenue range. However, quarterly movements should be assessed against comparable periods because lending activity, trading income and asset management revenue can experience seasonal variations.

For investors evaluating these institutions, the next important consideration is whether revenue growth translates into sustainable earnings after funding costs, operating expenses and credit provisions. JPMorgan’s larger revenue base and Bank of America’s comparatively stable performance provide different starting points for analysis, but profitability, capital strength and the quality of income remain essential measures of long-term banking performance.

For a confidential discussion regarding your cross-border banking structure and global wealth management arrangements, contact our senior advisory team.