HomeIndustriesBank of America Tops Expectations With Q4 Earnings

Bank of America Tops Expectations With Q4 Earnings

Bank of America (BofA) shared its fourth-quarter earnings, which saw the banking giant exceed expectations due to strong investment banking and interest income results.

BofA reported $0.82 in earnings per share (EPS) in Q4, marking a 47% year-over-year jump and coming above $0.77 estimated by analysts. Its revenue jumped by 15% compared to the same period last year, coming at $25.5 billion versus expectations of $25.19 billion.

While BofA’s trading activity in the past quarter didn’t match the results of its closest rivals, the bank excelled in other areas. It saw a 44% jump in investment banking fees, which exceeded analysts’ expectations at a figure of $1.65 billion. Additionally, its net interest income was $14.36 billion compared to estimations of $14.18 billion.

“We finished 2024 with a strong fourth quarter,” Bank of America CEO Brian Moynihan said. “Every source of revenue increased, and we saw better than industry growth in deposits and loans … We believe this broad momentum sets up 2025 very well for Bank of America. “

BofA’s strong fourth-quarter earnings are in line with the performances of the five other largest banks in the United States. Morgan Stanley released its own Q4 earnings shortly after BofA and also topped the estimates, while Goldman Sachs and JPMorgan Chase did the same earlier this week.

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