Bank of America (BAC) reported Q3 earnings before market open on October Earnings beat expectations while revenue was lower than. Quarterly Earnings. Q1. News Release Quarterly Earnings. Q1 Bank of America Adjusts Third-quarter Financial Results · Presentation. Bank of America 3rd-quarter earnings miss revenue estimates, under pressure from low rates · Net income: $ billion versus $ billion.
Bank of america third quarter earnings -
Revenue fell short of analyst expectations. Bond trading revenue was lower than the level analysts estimated. Equities trading revenue was higher than the level analysts estimated. Net interest income declined, driven by lower interest rates. The bank reported EPS that beat expectations while revenue missed analyst forecasts. Both EPS and revenue were down compared to the year-ago quarter.
The bank's equities trading revenue surpassed analyst estimates and was up year over year YOY. However, bond trading revenue was below expectations and declined YOY. CEO Brian Moynihan noted that the bank is seeing continued signs of recovery from the economic fallout caused by the pandemic. Below is Investopedia's original earnings preview, published January 18, BAC , which held the highest share of domestic deposits among U.
Investors will be watching closely to see how well Bank of America is weathering two major challenges when it reports earnings on January 19, for Q4 FY Analysts expect a substantial decline in earnings per share EPS as revenue falls for the fifth consecutive quarter. Heightened volatility over the past year has provided significant opportunities for professional bank traders to boost revenue. That has helped to offset the adverse impact of low rates on the bank's net interest margin , which measures the difference between the interest banks earn on the loans they make and the interest they pay on deposits.
Analysts are expecting both bond and equities trading revenue to rise. The bank's underperformance gap widened as the broader market rebounded in the latter half of March following the late February crash. It was not until early November, following the U. Shares of Bank of America have provided a total return of Source: TradingView.
The bank's stock has been relatively unaffected by quarterly financial results over the past year. Bank of America posted a Revenue fell However, EPS plunged EPS is expected to fall For full-year , analysts are forecasting a Those would be the first declines for either financial number in at least five years.
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