Bank of America Chairman and Chief Executive Officer Brian Thomas Moynihan testifies during the Senate Committee on Banking, Housing and Urban Affairs’ Wall Street Oversight Hearing on Capitol Hill on December 6, 2023 in Washington, DC .
Saul Loeb | AFP | Getty Images
Bank of America First-quarter earnings are scheduled to be released before the market opens on Tuesday.
Here’s what Wall Street expected:
- Earnings per share were 76 cents, according to LSEG
- Revenue: $25.46 billion
- Provision for credit losses: $1.4 billion, according to StreetAccount
- Deals: $3.24 billion in fixed income, $1.84 billion in equities
Will Bank of America follow its rivals’ lead and report better-than-Wall Street earnings?
This is one of the key questions later JPMorgan, Citigroup and Goldman Sachs All exceeded expectations, with help from trade and investment banks.
Bank of America Chief Financial Officer Alastair Borthwick told analysts last month that investment banking revenue is expected to grow 10% to 15% from the same period last year, while trading results will be roughly flat.
Analysts will also be watching the bank’s net interest income, which has been declining in recent quarters as funding costs climbed as interest rates rose.
This story is developing. Please check back for updates.
