Witness the testimony of Bank of America’s Chairman and CEO, Brian Thomas Moynihan, at a Wall Street oversight hearing conducted by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill in Washington, DC, on December 6, 2023.
Marvel at the first-quarter earnings report from Bank of America, surpassing analysts’ expectations for both profit and revenue due to exceptional interest income and investment banking performance.
Key highlights of the report include:
Earnings: 83 cents per share adjusted, exceeding the 76 cents LSEG estimateRevenue: $25.98 billion, surpassing the anticipated $25.46 billion
Will Bank of America outshine its competitors in delivering exceptional Wall Street revenue?
This question arises as JPMorgan Chase, Citigroup, and Goldman Sachs all exceeded expectations, fueled by strong trading and investment banking results.
Anticipate a 10% to 15% increase in investment banking revenue compared to the previous year, as forecasted by Bank of America’s Chief Financial Officer, Alastair Borthwick, during discussions with analysts.
2024-04-16 05:53:37
Original post available at www.cnbc.com
