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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.

Bank Of America Corp is expected to report next financial results on October 16, 2017.
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Other BAC's Earnings Reports

Bank Of America reported forth quarter 2016 earnings

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