Earnings

Bank of America (BAC) earnings Q1 2021

0


Bank of America reported Thursday profit that topped Wall Street estimates on booming investment banking and trading results, as well as the release of loan-loss reserves as fewer consumers were expected to default on debts.

The bank posted a first-quarter profit of $8.1 billion, or 86 cents a share, exceeding the 66 cents a share expected by analysts surveyed by Refinitiv. The company produced $22.9 billion in revenue, edging out the $22.1 billion estimate.

“While low interest rates continued to challenge revenue, credit costs improved and we believe that progress in the health crisis and the economy point to an accelerating recovery,” CEO Brian Moynihan said in the release.

Shares of the…



Source cnbc.com

Jim Cramer says he sold some of his bitcoin and paid off a mortgage

Previous article

Schwab first quarter 2021 earnings

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Earnings