Bank of America CEO Says Consumer Continues To Spend And Maintain Healthy Credit Quality, Sticks To Annual Outlook

On Tuesday, Bank of America Corp (NYSE:BAC) reported a first-quarter fiscal 2025 net income of $7.4 billion (versus $6.7 billion a year ago) and EPS of $0.90, beating the analyst consensus estimate of $0.81.

Revenue, net of interest expense, increased 6.0% year over year to $27.37 billion, beating the analyst consensus estimate of $26.99 billion. This was driven by noninterest income growth across all segments and higher net interest income (NII).

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Segment Net income: Consumer Banking clocked $2.53 billion versus $2.66 billion Y/Y, Global Wealth and Investment Management was $1.007 billion versus $1.005 billion Y/Y, Global Banking was $1.91 billion versus $1.99 billion Y/Y, ...