Bank of America (BAC) Tops Q2 EPS by 3c

(Updated - July 18, 2017 6:48 AM EDT)

Bank of America (NYSE: BAC) reported Q2 EPS of $0.46, $0.03 better than the analyst estimate of $0.43. Revenues was $22.8 billion versus the consensus of $21.8 billion.

FICC revenue $2.25 billion, versus the consensus of $2.22 billion.

"Against modest economic growth of 2 percent, we had one of the strongest quarters in our history. All of our businesses delivered strong results, with several setting new records. The investments we made to transform how we serve clients produced 500 basis points of operating leverage in the quarter. We achieved our 60 percent efficiency ratio target, and we continued to manage credit risk carefully in line with responsible growth. This supports our plan to return $17 billion in capital during the next four quarters, including a 60 percent increase in the quarterly common dividend." Brian Moynihan, Chief Executive Officer, said.

For earnings history and earnings-related data on Bank of America (BAC) click here.

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