Bank of America Corporation (NYSE:BAC) will release earnings results for the third quarter, before the opening bell on Wednesday, Oct. 15.Analysts expect the Charlotte, North Carolina-based company to report quarterly earnings at 95 cents per share, up from 81 cents per share in the year-ago period. Bank of America projects quarterly revenue of $27.38 billion, compared to $25.34 billion a year earlier, according to data from Benzinga Pro.On Sept. 30, Bank of America said it has rolled out a generative AI to ...

Earnings Report - Bank of America is set to release its third-quarter earnings results on October 15, with analysts expecting earnings of 95 cents per share, an increase from 81 cents per share in the same period last year [1] - The projected quarterly revenue is $27.38 billion, compared to $25.34 billion a year earlier [1] AI Tool Implementation - On September 30, Bank of America launched a generative AI tool to enhance its Global Payments Solutions team, which serves over 40,000 business clients globally [2] Stock Performance - Shares of Bank of America fell by 2.3%, closing at $48.65 on the previous Friday [2] Analyst Ratings - The consensus rating for Bank of America is "Buy," with a highest price target of $66.00 and a lowest price target of $33.90, resulting in a consensus price target of $49.48 [4] Recent Analyst Actions - Evercore ISI Group analyst Glenn Schorr maintained an Outperform rating and raised the price target from $49 to $55 [6] - Oppenheimer analyst Chris Kotowski maintained an Outperform rating and lowered the price target from $57 to $56 [6] - Citigroup analyst Keith Horowitz maintained a Buy rating and raised the price target from $54 to $58 [6] - Wells Fargo analyst Mike Mayo maintained an Overweight rating and raised the price target from $56 to $60 [6] - RBC Capital analyst Gerard Cassidy maintained an Outperform rating and increased the price target from $45 to $53 [6]

AI Initiatives - Roblox introduces generative AI tools to empower creators in item creation, streamlining the process with prompt-based generation [1][2] - Real-time voice chat translation tools are being implemented, initially supporting a few languages with plans for expansion [3] - The AI tools are integrated into the creator platform, enabling creators to sell their creations without needing to purchase the tools separately [8] Platform Enhancements - A social network feature called "Moments" is being launched, similar to TikTok or YouTube clips, allowing creators and players to showcase their game experiences through short videos [4] Safety Measures - Roblox is implementing age estimation through selfies to tailor experiences and chat access based on the user's perceived age [6] - The company acknowledges the importance of safety, especially given its young user base, and is addressing various safety concerns [5][6] Business Model - Roblox's revenue model relies on virtual item sales, where creators and the platform both take a percentage of each transaction [2][9] - The platform's advancements, including AI tools and virtual social features, have contributed to significant stock growth in the past year [9]

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain Companies developing AI models, such as OpenAI and Meta, train their systems on enormous datasets. These consist of text from newspapers, books (often sourced from unauthorized repositories), academic publications and various internet sources. The material includes works that are copyrighted. ...