Bank of America (NYSE:BAC) Second Quarter 2024 Results
Key Financial Results
-
Revenue: US$23.9b (flat on 2Q 2023).
-
Net income: US$6.58b (down 7.3% from 2Q 2023).
-
Profit margin: 28% (down from 30% in 2Q 2023).
-
EPS: US$0.83 (down from US$0.88 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of America EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.9%.
Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company’s shares are down 3.3% from a week ago.
Balance Sheet Analysis
While it’s very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Bank of America’s balance sheet health.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
Source: finance.yahoo.com
