BofA (BAC) Q2 Earnings Top, Provisions Up on Coronavirus Woes
Bank of America’s BAC second-quarter 2020 earnings of 37 cents per share outpaced the Zacks Consensus Estimate of 28 cents. The earnings included the impact of a reserve build of $4 billion, mainly done to combat persistent economic slowdown.
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Lower Rates Hurt Revenues, Expenses Rise
Net revenues amounted to $22.3 billion, which beat the Zacks Consensus Estimate of $21.8 billion. However, the figure was down 3% on a year-over-year basis.
Net interest income — on a fully taxable-equivalent basis — declined 11% year over year to $10.8 billion, mainly due to lower interest rates, partly offset by loan and deposit growth. Also, net interest yield contracted 57 basis points to 1.87%.
BofA (BAC) Q4 Earnings Beat, Stock Slips on Lower Revenues
Bank of America’s BAC fourth-quarter 2020 earnings of 59 cents per share beat the Zacks Consensus Estimate of 56 cents. However, the bottom line was 21% below the prior-year quarter level.
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Driven by rise in deal making activities during the fourth quarter, advisory fees jumped 45% from the prior-year quarter. Also, equity underwriting fees surged 141%. Conversely, debt issuance fees fell 10%. Nonetheless, total investment banking fees grew 36%.
Bank of America (BAC) Surpasses Q1 Earnings and Revenue Estimates
Zacks Equity Research
Thu, April 15, 2021, 1:30 PM·3 min read
Bank of America (BAC) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 32.31%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.56 per share when it actually produced earnings of $0.59, delivering a surprise of 5.36%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Bank of America, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $22.82 billion for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 4.18%. This compares to year-ago revenues of $22.77 billion.
Bank of America (BAC) Tops Q3 Earnings and Revenue Estimates
Bank of America (BAC) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.51 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 19.72%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.77 per share when it actually produced earnings of $1.03, delivering a surprise of 33.77%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Bank of America, which belongs to the Zacks Banks - Major Regional industry, posted revenues of $22.77 billion for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 4.77%. This compares to year-ago revenues of $20.34 billion.
Bank of America Reports Q2-22 Net Income of $6.2 Billion; EPS of $0.73 misses by $0.02
Revenue of $22.7B misses by $90M
Net Interest Income up 22% to $12.4 Billion; Average Loan Balances up 12% to $1.0 Trillion;
Fourth Consecutive Quarter of Operating Leverage
Zitat:[*]Bank of America (NYSE:BAC): Q2 GAAP EPS of $0.73 misses by $0.02.
[*]Revenue of $22.7B (+5.7% Y/Y) misses by $90M.
[*]Net interest income up $2.2 billion, or 22%, to $12.4 billion, driven by higher interest rates, lower premium amortization and loan growth – Noninterest income declined $989 million, or 9%, to $10.2 billion, primarily reflecting weaker capital markets.
[*]Provision for credit losses of $523 million increased $2.1 billion. Net reserve release of $48 million vs. $2.2 billion release in Q2-21 – Net charge-offs of $571 million declined modestly.
[*]Average loan and lease balances up $107 billion, or 12%, to $1.0 trillion led by strong commercial loan growth as well as higher consumer balances; excluding Paycheck Protection Program (PPP), average loan and lease balances grew $124 billion5
[*]Average deposits up $123 billion, or 7%, to $2.0 trillion
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Die Bank of America hat im vierten Quartal nur noch 3,14 Milliarden Dollar verdient, ein Rückgang von 56 Prozent zum Vorjahreszeitraum. Das entspricht 35 Cent pro Aktie. Analysten hatten 53 Cent erwartet. Die Einnahmen fielen um zehn Prozent auf 21,99 Milliarden Dollar, wie die Bank mitteilte. Analysten hatten 23,7 Milliarden Dollar erwartet.
Der Gewinnrückgang ist auf einmalige Posten zurückzuführen, die die Anleger bereits erwartet hatten. Die Bank hatte Anfang der Woche angekündigt, dass sie eine Belastung in Höhe von 1,6 Milliarden Dollar im Zusammenhang mit der Abkehr von der London Interbank Offered Rate verbuchen würde. Die Bank geht davon aus, dass sie dieses Geld in den folgenden Jahren wieder hereinholen wird.
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