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14-10-2021, 06:56 PM
Bank of America tops estimates on reserve release, strong advisory and asset management results
Hugh Son
PUBLISHED THU, OCT 14 20216:24 AM EDT
Here are the numbers:
Earnings: 85 cents a share vs the 71 cents a share of analysts surveyed by Refinitiv
Revenue: $22.87 billion vs the $21.8 billion estimate
Here’s what Wall Street expected:
Earnings: 71 cents a share, 39% higher than a year earlier, according to Refinitiv.
Revenue: $21.8 billion, 6.5% higher than a year earlier.
Net Interest Income: $10.6 billion on a reported basis, according to StreetAccount
Trading Revenue: Fixed Income $1.93 billion, Equities $1.45 billion
Investment Banking Revenue: $2 billion
Has loan demand at Bank of America turned the corner?
That’s what analysts are wondering about the second-biggest U.S. lender by assets. Investors want to see loan growth improve from a weak first half of the year because that will help the bank produce more interest income.
Like other lenders, Bank of America set aside billions of dollars for credit losses last year, when the industry anticipated a wave of defaults tied to the coronavirus pandemic. Banks have been releasing some of those funds when the losses didn’t arrive, and analysts will be curious how much of a boost that dynamic will have in the second half of the year.
More details in https://www.cnbc.com/2021/10/14/bank-of-...2021-.html
Hugh Son
PUBLISHED THU, OCT 14 20216:24 AM EDT
Here are the numbers:
Earnings: 85 cents a share vs the 71 cents a share of analysts surveyed by Refinitiv
Revenue: $22.87 billion vs the $21.8 billion estimate
Here’s what Wall Street expected:
Earnings: 71 cents a share, 39% higher than a year earlier, according to Refinitiv.
Revenue: $21.8 billion, 6.5% higher than a year earlier.
Net Interest Income: $10.6 billion on a reported basis, according to StreetAccount
Trading Revenue: Fixed Income $1.93 billion, Equities $1.45 billion
Investment Banking Revenue: $2 billion
Has loan demand at Bank of America turned the corner?
That’s what analysts are wondering about the second-biggest U.S. lender by assets. Investors want to see loan growth improve from a weak first half of the year because that will help the bank produce more interest income.
Like other lenders, Bank of America set aside billions of dollars for credit losses last year, when the industry anticipated a wave of defaults tied to the coronavirus pandemic. Banks have been releasing some of those funds when the losses didn’t arrive, and analysts will be curious how much of a boost that dynamic will have in the second half of the year.
More details in https://www.cnbc.com/2021/10/14/bank-of-...2021-.html
Specuvestor: Asset - Business - Structure.
