Bank of America Profit Rises 11%, Beats Expectations

Bank of America Profit Rises 11%, Beats Expectations

Bank of America, the second-largest slope successful the U.S. by assets, reported nett of $7.4 cardinal successful the archetypal quarter, up 11% from a twelvemonth ago. That amounted to per-share net of 90 cents, which topped Wall Street’s expectations for 82 cents.

The Charlotte, North Carolina-based lender said gross of $27.37 cardinal roseate 6% from a twelvemonth earlier. That bushed the $26.97 cardinal that analysts surveyed by FactSet expected.

In the archetypal 4th of 2024, Bank of America posted nett income of $6.7 billion, oregon 76 cents per share, connected gross of $25.8 billion.