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Sep 30, 2024
Bank of America Q3 2024 Earnings Report
Bank of America reported solid earnings driven by growth in investment banking, asset management fees, and sales and trading revenue.
Key Takeaways
Bank of America reported a net income of $6.9 billion, or $0.81 per diluted share, for Q3 2024. Revenue, net of interest expense, increased to $25.3 billion, driven by solid fee growth. The CET1 ratio stood at 11.8%, and the book value per share grew 8% year-over-year to $35.37.
Net income reached $6.9 billion, with EPS at $0.81.
Revenue improved year-over-year to $25.3 billion, driven by solid fee growth.
CET1 ratio at 11.8%, positioning the bank well above regulatory requirements.
Book value per share grew 8% year-over-year to $35.37.
Revenue by Segment
Forward Guidance
While the provided document does not contain explicit forward guidance, it highlights positive trends and strategic investments that suggest a positive outlook.
Positive Outlook
- Higher average loans and sequential average deposit growth.
- Double-digit year-over-year growth in investment banking and asset management fees.
- Double-digit year-over-year growth in sales and trading revenue.
- Benefits from investments in the business.
- Strong liquidity and capital positions well above regulatory requirements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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