Breaking: Bank of America (BAC) Q1 earnings beat expectations


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

BAC

 

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.

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, 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.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or 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. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

GBP/USD trades with mild negative bias around 1.2200 ahead of UK/US inflation data

GBP/USD trades with mild negative bias around 1.2200 ahead of UK/US inflation data

GBP/USD struggles to capitalize on this week’s modest bounce from a multi-year low. Stagflation fears and UK fiscal concerns undermine the GBP and weigh on the major. Subdued USD demand acts as a tailwind for the pair ahead of the UK/US CPI prints.

GBP/USD News
EUR/USD steadies around 1.0300 as US Dollar remains subdued ahead of US CPI

EUR/USD steadies around 1.0300 as US Dollar remains subdued ahead of US CPI

EUR/USD remains steady following recent gains registered in the previous session, trading around 1.0300 during the Asian hours on Wednesday. The pair received support as the market sentiment improved due to recent reports that the incoming Trump administration is considering gradual tariff hikes.

EUR/USD News
Gold price remains depressed amid risk-on mood; traders keenly await US CPI report

Gold price remains depressed amid risk-on mood; traders keenly await US CPI report

Gold price attracts some sellers as the risk-on mood undermines demand for safe-haven assets. The prospects for a slower Fed rate cut contribute to driving flows away from the XAU/USD pair. A softer USD and geopolitical risks could support the precious metal ahead of the US CPI report.

Gold News
Bitcoin and Ethereum rebound, Ripple rallies ahead of CPI data

Bitcoin and Ethereum rebound, Ripple rallies ahead of CPI data

Bitcoin and Ethereum prices continue to recover on Wednesday after finding support around their key levels this week. On the other hand, Ripple remains strong and found support around its upper symmetrical triangle boundary, suggesting a rally continuation. 

Read more
Small business optimism shoots up in December

Small business optimism shoots up in December

Small business sentiment continued to improve in December alongside greater economic and public policy certainty. The NFIB Small Business Optimism Index rose 3.4 points to 105.1, reaching its highest level since October 2018. 

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures