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

EARNINGS REPORT by CSIMarket

Earnings and Revenues Increased


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Bank Of America Corp announced third quarter 2016 operating income of $8154 millions



Bank Of America Corp had third quarter 2016 Revenue increase of 4.61 % to $21.64 billions from $20.68 billions from the same quarter a year ago, company grew eps by 10.81 % to $0.41, from $0.37 in the prior year quarter.

In the previous quarter company realized Revenue of $20.40 billions and bottom line of $0.36 per share.
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 $4,955 millions in the third quarter 2016 increased by 9.92 % from net earnings of $4,508 millions reported in the third quarter 2016 a year ago. Bank Of America Corp also emphasized it's improving profit margins, where net margin rose to 22.9% in third quarter 2016, and operating margin edged up to 37.69%.

Continuing with Bank Of America Corp's third quarter 2016 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.

Bank Of America Corp is expected to report next financial results on April 14, 2017.
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