Bank of America CEO Brian Moinihan was interviewed by Jack Otter at the “Baron’s Round Table” at Fox Business Network Studios in New York City on January 9, 2020.
John Rampulse Ski | 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 71 cents per share, 39% higher than the previous year.
- Revenue: $ 21.8 billion, up 6.5% year-on-year.
- Net Interest Revenue: $ 10.6 billion on a reported basis, according to StreetAccount
- Trading income: $ 1.93 billion in fixed income, $ 1.45 billion in equity
- Investment Banking Revenue: $ 2 Billion
Did loan demand at Bank of America turn the corner?
That’s what analysts are wondering about the second-largest US creditor in wealth. Investors hope that loan growth will improve from the slump in the first half of this year as it helps banks generate more interest income.
Like other lenders, Bank of America secured billions of dollars in credit losses last year when a wave of defaults associated with the coronavirus pandemic was expected. Banks have released some of their money when losses didn’t arrive, and analysts are curious about how much boost their dynamics have later this year.
They will also ask CEO Brian Moynihan about his successor development after his Chief Operating Officer Tom Montag announces his resignation. Last month, Moynihan announced a drastic management review, including a new financial officer, technical officer, legal counsel and chief administrative officer.
Bank of America stocks rose 42% this year, outpacing the 36% rise in the KBW Bank Index.
On Wednesday, bigger rival JPMorgan Chase announced 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 for updates.
Become a smarter investor CNBC Pro..
Get stock selection, analyst phone calls, exclusive interviews, and access to CNBCTV.
Sign up and get started Free trial today..
Bank of America (BAC) Revenues Q3 2021
Source link Bank of America (BAC) Revenues Q3 2021