Earnings

Bank of America BAC earnings Q1 2023

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Brian Moynihan, CEO of Bank of America, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 17th, 2023. 

Adam Galica | CNBC

Bank of America on Tuesday reported first-quarter earnings and revenue that topped expectations on the back of higher interest rates.

Here’s what the bank did compared with Wall Street estimates according to Refinitiv:

  • Earnings: 94 cents per share versus 82 cents per share expected
  • Revenue: $26.39 billion versus $25.13 billion expected

The bank stock erased premarket gains and fell about 1% in morning trading.

Bank of America said its net income increased 15% to $8.2 billion, or 94 cents per diluted share, from $7.1 billion, or 80 cents per diluted share, a…



Source cnbc.com

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