Interest rate cuts might have been on the mind of the Wall St. analysts gathered for the Bank of America third-quarter earnings call today (Oct. 15), but digital transformation and healthy consumer spending turned out to be the stars of the show. As Bank of America CEO Brian Moynihan told the call’s audience, he sees consumer payments as the key indicator of the banks and the economy’s financial health, and those payments were up 5% year-over-year for the quarter. Moynihan and CFO Alistair Borthwick deflect ...

Key TakeawaysLarge U.S. banks such as JPMorgan and Bank of America exceeded quarterly earnings expectations.Asset and wealth management divisions benefited from surging U.S. stock and bond markets.Most large banks increased their cushion for potential credit losses, a possible red flag for the U.S. economy. Large U.S. banks exceeded profit expectations in the third quarter. But most also set aside more money for potential credit losses, a possible warning sign for the economy. JPMorgan Chase (JPM), Wells Fa ...

Bank of America Corporation (NYSE:BAC) Q3 2024 Results Conference Call October 15, 2024 8:30 AM ET Company Participants Lee McEntire - Investor Relations Brian Moynihan - Chief Executive Officer Alastair Borthwick - Chief Financial Officer Conference Call Participants Jim Mitchell - Seaport Global Betsy Graseck - Morgan Stanley Glenn Schorr - Evercore Matt O'Connor - Deutsche Bank Mike Mayo - Wells Fargo Vivek Juneja - JP Morgan Steven Chubak - Wolfe Research Erika Najarian - UBS Gerard Cassidy - RBC Operat ...

Bank of America (BAC) reported $25.35 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.7%. EPS of $0.81 for the same period compares to $0.90 a year ago.The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $25.29 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +3.85%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...

Bank of America’s (BAC) third-quarter 2024 earnings of 81 cents per share surpassed the Zacks Consensus Estimate of 78 cents. The bottom line compared unfavorably with 90 cents earned in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Shares of the company gained almost 1.5% in pre-market trading on better-than-expected results, driven by solid capital markets performance.Behind BAC’s Headline NumbersTotal investment banking (IB) fees (in the Global Banking di ...

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 ...

Bank of America (BAC) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.85%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.79 per share when it actually produced earnings of $0.83, delivering a surprise of 5.06%.Over the last four quar ...

Bank of America (BAC) reported third-quarter results above analysts' estimates Tuesday morning, as revenue rose year-over-year and profit fell by a smaller amount than expected. The company reported $25.34 billion in revenue, above last year's $25.17 billion and the $25.28 billion consensus projection of analysts compiled by Visible Alpha. The key banking metric of net interest income (NII) came in at $13.97 billion, down from $14.38 billion a year ago but better than the $13.85 billion expectation. Bank o ...

Supplemental Information Third 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., Oct. 15, 2024 /PRNewswire/ -- Bank of America reported its third 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 informationChief 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 tod ...