Loading...
Market
Will Bank of America report a net earnings increase in Q3 2024 compared to Q2 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Bank of America’s Q3 2024 earnings report
Story
Bank of America Exceeds Q2 Earnings Estimates with EPS $0.83 and Revenue $25.4B
Jul 16, 2024, 10:51 AM
Bank of America reported its Q2 2024 earnings, surpassing both earnings and revenue estimates. The company posted an EPS of $0.83, exceeding the expected $0.79, and total revenue of $25.4 billion, above the forecasted $25.2 billion. Net interest income (FTE) came in at $13.86 billion, slightly higher than the $13.81 billion estimate. Trading revenue excluding DVA was $4.68 billion, surpassing the $4.53 billion estimate. Investment banking revenue reached $1.56 billion, exceeding the expected $1.45 billion. The bank also reported zero trading loss days in H1 2024. Despite these positive results, net earnings were down 7% year-over-year to approximately $6.9 billion, and the credit card loss rate increased. Shares of Bank of America rose by 1.2% in pre-market trading. Net interest income decreased 3% due to higher deposit costs. The provision for credit losses was $1.51 billion. The bank noted a weakening consumer outlook.
View original story
Similar markets
Yes • 50%
No • 50%
Increase by more than 10% • 25%
Increase by 5-10% • 25%
Increase by less than 5% • 25%
Decrease or no change • 25%
Above $45 • 25%
$40 to $45 • 25%
$35 to $40 • 25%
Below $35 • 25%
Yes • 50%
No • 50%
Increase by more than 10% • 25%
Increase by up to 10% • 25%
Decrease by up to 10% • 25%
Decrease by more than 10% • 25%
Yes • 50%
No • 50%
More than 1,000 • 25%
500 to 1,000 • 25%
Less than 500 • 25%
No new hires • 25%