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June 6th, 2016, 09:03 AM
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Join Date: Mar 2013
Re: Bank of America Earnings Release

Bank of America (BAC) released its Q1 Earnings Announcement on Thursday, and the company's message was largely in line with lackluster expectations.

The bank earned $0.21 per share, which was a penny better than analysts' expectations.

Average loans and leases grew 8% to $215 billion. Total credit and debit card spending activity increased by 5%.

Bank of America issued 1.2 million new US consumer credit cards during the period.

Fiscal
Quarter End Date
Reported Earnings
Per Share Consensus
EPS Forecast %
Surprise

Mar2016 04/14/2016 0.21 0.22 -4.55
Dec2015 01/19/2016 0.28 0.27 3.7
Sep2015 10/14/2015 0.37 0.34 8.82
Jun2015 07/15/2015 0.45 0.36 25


Bank of America Reports First-Quarter 2016

Bank of America Reports Q1-16 Net Income of $2.7Billion, EPS of $0.21
Results Include $1.2Billion ($0.07 per Share) in Negative Market-Related NII Adjustments and $0.9Billion
($0.05 per Share) in Annual Retirement-Eligible Incentive Compensation Costs

Financial Highlights

Revenue, net of interest expense (FTE basis) of
$19.7 billion
(A)
– Excluding market-related net interest income
(NII) adjustments, revenue (FTE basis) was
$20.9 billion, compared to $21.6 billionin
Q1-15
(A)

NII (FTE basis) of $9.4 billion
(A)
– Excluding market-related NII adjustments, NII
increasedto $10.6 billionfrom $10.1 billionin
Q1-15
(A)

Noninterest income of $10.3 billion, compared to
$11.5 billion

Provision for credit losses of $997 million, compared to $765 million; net charge-offs declined to $1.1 billion from $1.2 billion

Noninterest expense declined 1.0 billion, or 6%, to $14.8 billion


For Complete Information about Bank of America 2016 Quarterly Earnings
Here I am Attaching pdf file you Can Download free of Cost :

Bank of America 2016 Quarterly Earnings Information :




Attached Files
File Type: pdf Bank of America 2016 Quarterly Earnings Information .pdf (263.6 KB, 86 views)


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