Bank of America Corp (NYSE:BAC) reported a third-quarter fiscal 2024 net income of $6.9 billion and EPS of $0.81, beating the analyst consensus estimate of $0.77. Net income fell 12% year-on-year due to higher provisions for loan losses and rising expenses.
Revenue, net of interest expense, increased 1.0% year over year to $25.49 billion, beating the analyst consensus estimate of $25.29 billion.
Also Read: JPMorgan Chase Q3 Earnings: Investment Banking Revenue Soars 29%, Largest Bank Raises Net Interest Income Outlook.
The gains in trading revenue, asset management, and investment banking fees offset the decline in net interest income. The stock gained after the quarterly print.
Segment Net income: Consumer Banking $2.69 billion vs. ...
