Monday, April 16, 2018

Bank of America reports record quarterly earnings of $6.9 billion

Now BAC blows away the number for 1Q:

The company, the second-largest U.S. bank, reported net income of $6.92 billion, a 30 percent increase over a year earlier that surpassed analysts’ expectations. 
First-quarter expenses totaled about 60 percent of revenue, the best ratio in more than five years. That helped push profit above analysts’ estimates, and corporate tax cuts spurred earnings to a record. Net interest income got a bigger boost than expected from higher interest rates,

No comments: