Tuesday, April 18, 2017

Bank Of America Q1 Profit Beats Estimates; Revenue Up 7%

Bank of America (BAC) reported that its first-quarter net income increased 40% to $4.9 billion, and EPS increased 46% to $0.41, compared to $3.5 billion and $0.28, respectively, prior year. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically exclude special items. Net income applicable to common shareholders was $4.35 billion compared to $3.02 billion, previous year.

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