Bank of America earnings are out – Here are the numbers

Bank of America earnings are out – Here are the numbers


Brian Moynihan, chief executive officer of Bank of America Corp., during a Bloomberg Television interview in New York, US, on Tuesday, March 19, 2024. 

Jeenah Moon | Bloomberg | Getty Images

Bank of America reported first-quarter earnings before the opening bell Tuesday.

Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:

  • Earnings: 90 cents a share, vs. expected 82 cents per share
  • Revenue: $27.51 billion, vs. $26.99 billion expected

Bank of America shares have sold off in recent weeks on concern that President Donald Trump’s tariff policies could cause a recession.

The company’s stock has fallen more than 16% this year through Monday.

But, if it’s anything like its peers, Bank of America is likely to have benefited from a boost in trading revenue in the quarter, while consumer credit and wealth management held up in the period.

JPMorgan Chase, Morgan Stanley and Goldman Sachs each exceeded analysts’ estimates on a boom in equities trading revenue as banks took advantage of volatility in the quarter.  

This story is developing. Please check back for updates.



Source

Here are the retailers raising prices as Trump tariffs take hold
Business

Here are the retailers raising prices as Trump tariffs take hold

A person picks out clothing in a store as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November 24, 2023.  Vincent Alban | Reuters Consumers who hoped tariffs would not […]

Read More
This is why Jamie Dimon is so gloomy on the economy
Business

This is why Jamie Dimon is so gloomy on the economy

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The more Jamie Dimon worries, the better his bank seems to do. As JPMorgan […]

Read More
Summer rentals in the Hamptons are down 30%
Business

Summer rentals in the Hamptons are down 30%

Key Points Summer rentals in the Hamptons are down 30% from the same period in previous years, according to Judi Desiderio of William Raveis Real Estate. Brokers who focus on ultra-high-end rentals are seeing an even bigger drop and say their rental business is down between 50% and 75%. Some renters may be holding out […]

Read More