Tuesday, July 16th, 2024We hit the ground running in this morning’s pre-market. Q2 earnings season for the next four weeks will bring us key performance numbers from all manner of publicly traded equities, while key economic data helps us interest-rate prognosticators keep tabs on the odds of a pending interest rate cut. The Dow, coming off an all-time closing high yesterday, is up another +150 points at the hour, the S&P 500 is +16 and the Nasdaq is +62 points at this hour.If we’re hoping for a July rate c ...

So, And. And. And. And. Please stand by. Your program is about to begin. If you need assistance on today's conference, please press star zero. Good day, everyone, and welcome to the Bank of America earnings announcement. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad You may withdraw yourself from the que ...

Key TakeawaysBank of America shares rose Tuesday after reporting better second-quarter revenue and profit than analysts had projected.Net interest income, however, was lower than the same time last year, as Bank of America joins other banks that recently reported drops to NII in the second quarter.The bank's investment banking operations were a source of growth as consumer banking revenue slipped 3% year-over-year. Bank of America (BAC) shares rose Tuesday as second-quarter revenue and profit beat estimates ...

Bank of America (BAC) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.06%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.77 per share when it actually produced earnings of $0.83, delivering a surprise of 7.79%.Over the last four quar ...

Bank of America's second-quarter profit fell as income from interest on loans shrank and provisions for potential credit losses jumped, but a better-than-expected forecast for net interest income sent the bank's shares higher in premarket trade. Banks are shelling out more on deposits as interest rates are at their highest since 2007, which have boosted returns on bonds, making alternatives such as money market funds more attractive.The cost of preventing a deposit outflow has eroded banks' gains from the r ...

Bank of America 2Q24 Financial Results July 16, 2024 2Q24 Financial Results | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------|-------|-------|-------------|-----------|-------------|-------|-------------|-------| | ($B, except per share data) | 2Q24 | 1Q24 | Inc / (Dec) | 1Q24Adj.1 | Inc / (Dec) | 2Q23 | Inc / (Dec) | | | Total revenue, net of interest expense | $25.4 | | | | | | | % | | Provision for credit losses | 1.5 | | | | | | | | | Net charge-offs ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

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Supplemental Information Second Quarter 2024 Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the ...

CHARLOTTE, N.C., July 16, 2024 /PRNewswire/ -- Bank of America reported its second quarter 2024 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings.Investor Conference Call information:Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in an investor conference call at 8:30 a.m. ET t ...