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Mar 31, 2024
Bank of America Q1 2024 Earnings Report
Bank of America reported a decrease in net income and revenue, driven by lower net interest income, while investment banking and asset management fees increased.
Key Takeaways
Bank of America's Q1 2024 net income was $6.7 billion, or $0.76 per diluted share, compared to $8.2 billion, or $0.94 per diluted share in Q1 2023. Revenue decreased by 2% to $25.8 billion, impacted by lower net interest income. The results include a $700 million FDIC special assessment expense.
Net income was $6.7 billion, with diluted earnings per share of $0.76.
Revenue decreased by 2% to $25.8 billion, influenced by lower net interest income.
Net interest income decreased by 3% to $14.0 billion due to higher deposit costs.
The company returned $4.4 billion to shareholders through dividends and share repurchases.
Revenue by Segment
Forward Guidance
The earnings report did not include forward guidance. Therefore, no information is available regarding the company's expectations for future performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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