Bank of America Q4 Adj $0.70 Beats $0.63 Estimate, Adj. Revenue $23.50B Miss $23.74B Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of America (NYSE:BAC) reported Q4 adjusted earnings of $0.70 per share, surpassing the consensus estimate of $0.63, but experienced a 17.65% decrease from the previous year's $0.85 per share. Quarterly sales were $23.50 billion, falling short of the $23.74 billion estimate and marking a 4.68% decline from the previous year.
January 12, 2024 | 11:45 am
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NEUTRAL IMPACT
Bank of America reported higher-than-expected Q4 earnings but missed revenue estimates, with both earnings and revenue down from last year.
While the earnings beat might be viewed positively, the miss on revenue and the year-over-year decline in both earnings and sales could temper investor enthusiasm, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100