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Bank Of America Corp  (BAC)
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    Sector  Financial    Industry Money Center Banks
 
 

EARNINGS REPORT by CSIMarket

Strong Eps Underlines Double Digits Revenues Growth


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Bank Of America Corp announced first quarter 2017 operating income of $7400 millions



For the first quarter 2017 income surged by 95.24 % to $0.41 per share, followed by Revenue increase of 14.02 % to $22.25 billions, compared with the prior year period.

From forth quarter 2016, income faded by -20.69 % from $0.52 per share and Revenues increased by 0.42 % from $22.16 billions.
Bank Of America Corp told that it's good performance came from several different businesses, Asset Management +38.94%, Global Banking +2.39%, Commercial or Investment +0.4%, while following sections logged decrease in revenues Consumer Banking -8.97%, Global Markets -1.57%, Other 653.85%.

With rising profits in Global Markets and Commercial or Investment sections, and oblivious to shrinking profits in Asset Management and Global Banking segment. Net income of $4,856 millions in the first quarter 2017 increased by 81.19 % from net earnings of $2,680 millions reported in the first quarter 2017 a year ago. Bank Of America Corp also emphasized it's improving profit margins, where net margin rose to 21.83% in first quarter 2017, and operating margin edged up to 33.26%.

Continuing with Bank Of America Corp's first quarter 2017 report, company pointed out increase in: Tier1 Capital Ratio 12.90 up 0 %, Total Capital Ratio 15.80 up 0 %.
Explaining results, Money Center Banks company told, that it saw rise in: Leverage Ratio 8.50 gain by 0.6 %.
The Money Center Banks company, also marked largest decline in Efficiency Ratio and further contraction in Nonperforming Assets Ratio.
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