2023-07-18 06:45:25 ET
- Bank of America press release ( NYSE: BAC ): Q2 GAAP EPS of $0.88 beats by $0.05 .
- Revenue of $25.2B (+2.9% Y/Y) beats by $260M .
- Net interest income ( NII ) up $1.7 billion, or 14%, to $14.2 billion ($14.3 billion FTE)( C ) , driven primarily by benefits from higher interest rates and loan growth
- Noninterest income of $11.0 billion increased $795 million, or 8%, as higher sales and trading revenue more than offset lower service charges and investment and brokerage fees
- Provision for credit losses of $1.1 billion increased $602 million
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Bank of America GAAP EPS of $0.88 beats by $0.05, revenue of $25.2B beats by $260M