Bank of America Q2 Consumer Banking Revenue $10.2B, Down 3%; Sales And Trading Revenue Up 9%, Total Investment Banking Fees Up 29%
Portfolio Pulse from Benzinga Newsdesk
Bank of America reported its Q2 financial results, showing a 3% decline in consumer banking revenue to $10.2 billion. However, sales and trading revenue increased by 9%, and total investment banking fees rose by 29%.
July 16, 2024 | 10:50 am
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Bank of America reported mixed Q2 results with a 3% decline in consumer banking revenue, but a 9% increase in sales and trading revenue, and a 29% rise in investment banking fees.
The decline in consumer banking revenue is a negative indicator, but the increases in sales and trading revenue and investment banking fees are positive. These mixed results are likely to have a neutral short-term impact on BAC's stock price.
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