Bank of America Q2 Profit Jumps 27%, EPS Beats Estimates at $1.21
BAC sits 34% above its 52-week low of $44.75.
Summary
Bank of America reported Q2 net income of $9.07 billion, or $1.21 per share, beating analyst estimates of $1.13. Revenue rose 15% to $31.56 billion, driving a 27% jump in profit from a year earlier. The results follow a strong Q1 and CEO projections of robust trading revenue, confirming broad-based momentum across the franchise. With shares near a 52-week high, the beat reinforces the bank's earnings power in the current rate environment. The 8-K filed this morning provides additional detail on the quarter.
At the time of this announcement, BAC was trading at $59.87 on NYSE in the Finance sector, with a market capitalization of approximately $422.2B. The 52-week trading range was $44.75 to $60.83. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.