Bank of America's Q2 Earnings: Revenue And EPS Beat, $1.5B Credit Loss Provision, Sees Q4 NII Growth
Portfolio Pulse from Anusuya Lahiri
Bank of America Corp (NYSE:BAC) reported strong Q2 earnings, beating analyst estimates with a net income of $6.9 billion and EPS of $0.83. Revenue increased to $25.54 billion, and the bank announced plans for an 8% dividend increase. The stock is trading higher by 2.41% premarket.
July 16, 2024 | 11:43 am
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Bank of America reported strong Q2 earnings, beating analyst estimates with a net income of $6.9 billion and EPS of $0.83. Revenue increased to $25.54 billion, and the bank announced plans for an 8% dividend increase. The stock is trading higher by 2.41% premarket.
The strong earnings report, beating both revenue and EPS estimates, along with the announcement of an 8% dividend increase, is likely to positively impact BAC's stock price in the short term. The premarket trading increase of 2.41% further supports this positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100