Bank of America CEO Brian Moynihan is interviewed by Jack Otter at the “Barron Round Table” at Fox Business Network Studios in New York City on January 9, 2020.
John Rampulse Skis | Getty Images
Bank of America will report its third-quarter earnings before the opening bell on Thursday.
Here’s what Wall Street expects:
- Revenue: According to Refinitiv, it was up 71 cents per share, 39% more than last year.
- Revenue: $21.8 billion, up 6.5% year-over-year.
- Net Interest Revenue: StreetAccount . According to the report, $10.6 billion
- Business income: $1.93 billion in fixed income, $1.45 billion in equity
- Investment banking revenue: $2 billion
Did Bank Of America’s Loan Demand Turn Up?
That’s what analysts think of the second-largest US creditor by wealth. Investors expect the slowdown in the first half of this year to improve credit growth as it will help banks generate more interest income.
Like other lenders, Bank of America secured billions of dollars in credit losses last year at a time when a wave of defaults linked to the coronavirus pandemic was expected. Banks released some of their money when losses did not come in, and analysts are curious how much of a boost has boosted their dynamics later this year.
They will also ask CEO Brian Moynihan about the development of his successor, when his chief operating officer Tom Montague announces his resignation. Last month, Moynihan announced a rigorous management review, including a new financial officer, technical officer, legal advisor and chief administrative officer.
Shares of Bank of America rose 42% this year, outpacing the 36% gain in the KBW Bank Index.
Big rival JPMorgan Chase on Wednesday declared better-than-expected results. This was driven by an unexpected increase of $1.5 billion due to bad debt losses.
This story is developing. Please check update.
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Bank of America (BAC) Revenue Q3 2021
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