https://www.cnbc.com/2021/10/14/bank-of-america-bac-earnings-q3-2021-.html
Bank of America posted third-quarter results that exceeded analysts’ expectations as it benefited from better-than-expected loan losses and record advisory and asset management fees.
Earnings: 85 cents a share vs the 71 cents a share estimate of analysts surveyed by Refinitiv
Revenue: $22.87 billion vs the $21.8 billion estimate
Profit surged 58% to $7.7 billion, or 85 cents a share, as revenue climbed 12% to $22.87 billion. Results were helped by a $1.1 billion reserve release that led to a $624 million boost after chargeoffs.
Net interest income, a closely watched figure for banks, jumped 10% to $11.1 billion, exceeding the $10.6 billion StreetAccount estimate.
Submitted October 14, 2021 at 08:21AM by WeenisWrinkle https://ift.tt/3BINuvp
