Bank of America Tuesday published in the first quarter results That exceeded the expectations of analysts for profits and income from the income of the strongest net interest than expected and commercial income.
This is what the company reported:
- Earnings: 90 cents per share compared to 82 cents per action LSEG estimation
- Revenue: $ 27.51 billion compared to $ 26.99 billion expected
The bank said the profits increased by 11% to $ 7.4 billion, or 90 cents per share, since income increased 5.9% to $ 27.51 billion.
These profits were fed by the income from net interest, which is the difference in what a bank pays the depositors and what it earns in loans and investments, that increased to $ 14.6 billion in the quarter, exceeding the estimate of $ 14.56 billion Streetacount.
Bank of America said his NII benefited from the lowest deposit costs and the highest performance investments compared to the period of the major year.
“Our commercial clients have been working well; and consumers have shown resilience, continuing to spend and maintain a healthy credit quality,” said CEO Brian Moynihan in a statement. “Although we potentially face a changing economy in the future, we believe that the disciplined investments we have made for high quality growth, our diverse set of business and the relentless approach of the team in responsible growth will continue to be a source of strength.”
The company’s shares increased 4%.
The bank said that the income from Variable Income negotiation increased by 17% to $ 2.2 billion, which slightly exceeded the estimate of $ 2.12 billion, and fixed -income revenues increased 5% to $ 3.5 billion, compared to the estimate of $ 3.46 billion.
Investment banking rates fell 3% to $ 1.5 billion, losing the estimate of $ 1.6 billion, amid the slowdown in the entire industry caused by commercial uncertainty.
The company’s provision for loan losses, another key metric observed by investors such as banks plan a possible recession at the end of this year, was better than expected at $ 1.5 billion, compared to the estimate of $ 1.58 billion.
Bank of America’s actions have been sold in recent weeks for concern that the tariff policies of President Donald Trump could cause a recession.
The company’s shares have fallen more than 16% this year until Monday.
JPMorgan Chase, Morgan Stanley and Goldman Sachs Each exceeded the estimates of the analysts about a boom in the commercial income of shares as the banks took advantage of the volatility in the quarter.
