Earnings per Share

6 Months Ended

Jun. 30, 2019

Earnings per share

For a discussion of the computation of basic and diluted earnings per share (“EPS”), refer to Note 22 of JPMorgan Chase’s 2018 Form 10-K. The following table presents the calculation of basic and diluted EPS for the three and six months ended June 30, 2019 and 2018.



(in millions, except per share amounts)	Three months ended June 30,				Six months ended June 30,
(in millions, except per share amounts)	2019		2018		2019		2018
Basic earnings per share
Net income	$	9,652	$	8,316	$	18,831	$	17,028
Less: Preferred stock dividends	404		379		778		788
Net income applicable to common equity	9,248		7,937		18,053		16,240
Less: Dividends and undistributed earnings allocated to participating securities	56		57		108		121
Net income applicable to common stockholders	$	9,192	$	7,880	$	17,945	$	16,119

Total weighted-average basic shares outstanding	3,250.6		3,415.2		3,274.3		3,436.7
Net income per share	$	2.83	$	2.31	$	5.48	$	4.69

Diluted earnings per share
Net income applicable to common stockholders	$	9,192	$	7,880	$	17,945	$	16,119
Total weighted-average basic shares outstanding	3,250.6		3,415.2		3,274.3		3,436.7
Add: Employee stock options, SARs, warrants and unvested PSUs	9.1		19.5		9.6		20.4
Total weighted-average diluted shares outstanding	3,259.7		3,434.7		3,283.9		3,457.1
Net income per share	$	2.82	$	2.29	$	5.46	$	4.66