Financial institution of America Inventory Leaps On Q3 Earnings Beat, Strong Mortgage Progress

6

[ad_1]

Up to date at 9:33 am EST

Financial institution of America  (BAC)  posted better-than-expected third quarter earnings Monday, with stable web curiosity revenue beneficial properties offsetting the impression of massive soar in provisions for dangerous loans. 

Financial institution of America stated revenue for the three months resulted in September had been tabbed at81 cents per share, down 4.7% from the identical interval final yr and modestly larger than the Road consensus forecast of 77 cents per share.

Group revenues, the financial institution stated, rose 8% from final yr to $24.5billion, properly north of estimates of a $22.87 billion tally. Internet curiosity revenue rose 24% to $13.8 billion, the financial institution stated, whereas whole loans had been up 12%.



[ad_2]
Source link