Bank of America Reports Third-Quarter 2018 Financial Results
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Bank of America (BAC) Tops Q3 EPS by 4c
October 15, 2018 6:55 AM EDTBank of America (NYSE: BAC) reported Q3 EPS of $0.66, $0.04 better than the analyst estimate of $0.62. Revenue for the quarter came in at $22.8 billion versus the consensus estimate of $22.7 billion.
Net income up 32% to $7.2 billion, driven by continuing strong operating leverage and asset quality, as well as the benefit of tax reformDiluted earnings per share up 43% to $0.66Pretax income up 18% to $9.0 billion Revenue, net of interest expense, increased 4% to $22.8 billion Net interest income (NII) increased $709 million, or 6%, to $11.9 billion, reflecting benefits from higher interest rates, as well as loan and deposit growth;... More