Breaking: Bank of America (BAC) Q1 earnings beat expectations
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CLAIM OFFERBank of America (BAC) posted Q1 2021 earnings on Thursday. Earnings per share (EPS) was $0.86, beating Wall Street analyst expectations for $0.66. Revenue for the quarter came in at $22.82 billion, just ahead of expectations for $22.13 billion.
Bank of America also announced a $25 billion common stock repurchase plan and that it would distribute additional capital to shareholders when the repurchase is complete. The repurchase plan is subject to Federal Reserve (FRB) restrictions, and distributions to shareholders will be made after these expire.
Revenue from investment banking was $2.25 billion. On Wednesday, Goldman Sachs and Wells Fargo had posted strong results also beating expectations.
BAC stock price
Bank of America is trading at $40.78 in Thursday premarket, up 2%.
BAC stock chart
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Bank of America (BAC) posted Q1 2021 earnings on Thursday. Earnings per share (EPS) was $0.86, beating Wall Street analyst expectations for $0.66. Revenue for the quarter came in at $22.82 billion, just ahead of expectations for $22.13 billion.
Bank of America also announced a $25 billion common stock repurchase plan and that it would distribute additional capital to shareholders when the repurchase is complete. The repurchase plan is subject to Federal Reserve (FRB) restrictions, and distributions to shareholders will be made after these expire.
Revenue from investment banking was $2.25 billion. On Wednesday, Goldman Sachs and Wells Fargo had posted strong results also beating expectations.
BAC stock price
Bank of America is trading at $40.78 in Thursday premarket, up 2%.
BAC stock chart
At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
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