Bank of America's Earnings Beat Expectations Despite Lending Revenue Decline
TL;DR Summary
Bank of America's first-quarter earnings exceeded analysts' expectations, with adjusted earnings per share at 83 cents and revenue at $25.98 billion. The bank's profit fell 18% to $6.67 billion, or 76 cents a share, but excluding a $700 million FDIC assessment, profit was 83 cents a share. Net interest income surpassed estimates at $14.19 billion, while investment banking revenue jumped 35% to $1.57 billion, exceeding expectations. However, the bank's shares fell 4% following the earnings report.
- Bank of America tops estimates on better-than-expected interest income, investment banking CNBC
- Bank of America profits drop as key lending revenue weakens Yahoo Finance
- Bank of America Stock Rises After Earnings. What to Know. Barron's
- Bank of America Earnings Drop, Under Pressure From Higher Rates The Wall Street Journal
- What You Need To Know Ahead of Bank of America's Earnings Investopedia
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