Bank of America Q2 2024 GAAP EPS $0.88 Beats $0.80 Estimate, Total Revenue, Net Of Interest Expense $25.537B Beat $25.220B Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of America (NYSE:BAC) reported Q2 2024 earnings per share of $0.88, surpassing the analyst estimate of $0.80. The company also reported total revenue of $25.537 billion, exceeding the estimate of $25.220 billion. This represents a 0.81% increase from the same period last year.
July 16, 2024 | 10:45 am
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POSITIVE IMPACT
Bank of America reported better-than-expected Q2 2024 earnings and revenue, with EPS of $0.88 beating the $0.80 estimate and revenue of $25.537 billion surpassing the $25.220 billion estimate. This positive performance is likely to boost investor confidence and support the stock price in the short term.
The earnings and revenue both exceeded analyst expectations, which is a positive indicator for the stock. The EPS beat by 10% and revenue beat by 1.26% suggest strong financial performance, likely leading to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100