Earnings per Share

9 Months Ended

Sep. 30, 2023

Earnings per share

Refer to Note 23 of JPMorgan Chase’s 2022 Form 10-K for a discussion of the computation of basic and diluted earnings per share (“EPS”). The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2023 and 2022.


(in millions, except per share amounts)	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Basic earnings per share
Net income	$	13,151	$	9,737	$	40,245	$	26,668
Less: Preferred stock dividends	386		432		1,115		1,239
Net income applicable to common equity	12,765		9,305		39,130		25,429
Less: Dividends and undistributed earnings allocated to participating securities	80		50		241		134
Net income applicable to common stockholders	$	12,685	$	9,255	$	38,889	$	25,295

Total weighted-average basic shares outstanding	2,927.5		2,961.2		2,946.6		2,966.8
Net income per share	$	4.33	$	3.13	$	13.20	$	8.53

Diluted earnings per share
Net income applicable to common stockholders	$	12,685	$	9,255	$	38,889	$	25,295
Total weighted-average basic shares outstanding	2,927.5		2,961.2		2,946.6		2,966.8
Add: Dilutive impact of unvested PSUs, nondividend-earning RSUs and SARs	4.6		4.2		4.4		4.1
Total weighted-average diluted shares outstanding	2,932.1		2,965.4		2,951.0		2,970.9
Net income per share	$	4.33	$	3.12	$	13.18	$	8.51