Bank Of America Corp.

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Earnings Announcements

Bank Of America Reports Q3-21 Net Income Of $7.7 Bln, EPS Of $0.85

Published: 10/14/2021 11:04 GMT
Bank Of America Corp. (BAC) - Bank of America Reports Q3-21 Net Income of $7.7 Billion, EPS of $0.85.
Qtrly Net Interest Income Up $1 Billion, Or 10%, to $11.1 Billion.
Qtrly Provision for Credit Losses Was a Benefit of $624 Million, Reflecting a Net $1.1 Billion Reserve Release.
Q3 Earnings per Share View $0.71, Revenue View $21.78 Billion -- Refinitiv Ibes Data (analyst estimates).
Qtrly Noninterest Income Up 14% to $11.7 Billion.
Qtrly Net Charge-off Ratio Decreased 7 Basis Points From the Prior Quarter to 0.20%.
Qtrly Revenue, Net of Interest Expense, Increased 12% to $22.8 Billion.
Qtrly Noninterest Income Driven by Record Asset Management Fees, Strong Investment Banking Revenue, Higher Sales and Trading Revenue.
Qtrly Nii Driven by Strong Deposit Growth and Related Investment of Liquidity, and Paycheck Protection Program Activities.
Qtrly Ficc Revenue Down 5% to $2.0 Billion.
Qtrly Equities Revenue Up 33% to $1.6 Billion.
Bank of America - Reported Strong Qtrly Results As Economy Continued to Improve and Co's Businesses Regained Organic Customer Growth Momentum Seen Before Pandemic.
Qtrly Noninterest Expense Was Relatively Flat at $14.4 Billion.
Bank of America - Q3 Ficc Revenue Down 5%, Driven by Weaker Trading Environment for Mortgage, Interest Rate Products, Partially Offset by Improved Client Flows in Forex.
Bank of America - Q3 Equities Revenue Increased 33%, Driven by Growth in Client Financing Activities, Stronger Trading Performance, Increased Client Activity.
Further Company Coverage: .
Revenue is expected to be $21.94 Billion
Adjusted EPS is expected to be $0.76

Next Quarter Revenue Guidance is expected to be $23.21 Billion
Next Quarter EPS Guidance is expected to be $0.77

More details on our Analysts Page.