UPDATE: Bank Of America Corp. (BAC) Posts Q4 EPS of 3c; Revs Heavy
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Price: $37.91 -1.07%
Revenue Growth %: -1.9%
Financial Fact:
Total noninterest income: 11.43B
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: -1.9%
Financial Fact:
Total noninterest income: 11.43B
Today's EPS Names:
FRSB, DGICA, UXIN, More
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(Updated - January 17, 2013 7:11 AM EST)
Bank Of America Corp. (NYSE: BAC) reported Q4 EPS of $0.03, which may not compare with the analyst estimate of $0.02. Revenue for the quarter came in at $22.6 billion versus the consensus estimate of $22.4 billion.
EPS included multiple items: Representations and Warranties, Compensatory Fees Settlements with Fannie Mae, $2.7 Billion or $0.16 EPS; Provision for Independent Foreclosure Review Acceleration Agreement, $1.1 Billion or $0.06 EPS; Total Litigation Expense, $0.9 Billion or $0.05 EPS; Negative Valuation Adjustments for Improved Credit Spreads, $0.7 Billion or $0.04 EPS; Provision for Obligations Related to Mortgage Insurance Rescissions, $0.5 Billion or $0.03 EPS; Gain on Sale of Japan Brokerage Joint Venture, $0.4 Billion or $0.02 EPS; Positive MSR Valuation Adjustment Related to Servicing Sales, $0.3 Billion or $0.02 EPS; Net Tax Benefit Primarily From Recognition of Foreign Tax Credits of Certain Non-U.S. Subsidiaries, $1.3 Billion or $0.12 EPS
Excluding the above mentioned items EPS was $0.21
"Fourth-quarter 2012 revenue, net of interest expense, on an FTE basis, excluding $0.7 billion of debit valuation and fair value option adjustments, was $19.6 billion; excluding $3.0 billion of provisions for representations and warranties and obligations related to mortgage insurance rescissions related to settlement agreements with the Federal National Mortgage Association (Fannie Mae) revenue net of interest expense, on an FTE basis, was $22.6 billion."
Basel 1 Tier 1 Common Capital Ratio of 11.06 Percent at December 31, 2012; Estimated Basel 3 Tier 1 Common Capital Ratio of 9.25 Percent at December 31, 2012.
"We enter 2013 strong and well positioned for further growth," said Chief Executive Officer Brian Moynihan. "Double-digit growth since last year in mortgage production, commercial lending, and Global Markets revenue demonstrates the power of deeper customer and client relationships as we intensify the focus on connecting all our capabilities."
For earnings history and earnings-related data on Bank Of America Corp. (BAC) click here.
Bank Of America Corp. (NYSE: BAC) reported Q4 EPS of $0.03, which may not compare with the analyst estimate of $0.02. Revenue for the quarter came in at $22.6 billion versus the consensus estimate of $22.4 billion.
EPS included multiple items: Representations and Warranties, Compensatory Fees Settlements with Fannie Mae, $2.7 Billion or $0.16 EPS; Provision for Independent Foreclosure Review Acceleration Agreement, $1.1 Billion or $0.06 EPS; Total Litigation Expense, $0.9 Billion or $0.05 EPS; Negative Valuation Adjustments for Improved Credit Spreads, $0.7 Billion or $0.04 EPS; Provision for Obligations Related to Mortgage Insurance Rescissions, $0.5 Billion or $0.03 EPS; Gain on Sale of Japan Brokerage Joint Venture, $0.4 Billion or $0.02 EPS; Positive MSR Valuation Adjustment Related to Servicing Sales, $0.3 Billion or $0.02 EPS; Net Tax Benefit Primarily From Recognition of Foreign Tax Credits of Certain Non-U.S. Subsidiaries, $1.3 Billion or $0.12 EPS
Excluding the above mentioned items EPS was $0.21
"Fourth-quarter 2012 revenue, net of interest expense, on an FTE basis, excluding $0.7 billion of debit valuation and fair value option adjustments, was $19.6 billion; excluding $3.0 billion of provisions for representations and warranties and obligations related to mortgage insurance rescissions related to settlement agreements with the Federal National Mortgage Association (Fannie Mae) revenue net of interest expense, on an FTE basis, was $22.6 billion."
Basel 1 Tier 1 Common Capital Ratio of 11.06 Percent at December 31, 2012; Estimated Basel 3 Tier 1 Common Capital Ratio of 9.25 Percent at December 31, 2012.
"We enter 2013 strong and well positioned for further growth," said Chief Executive Officer Brian Moynihan. "Double-digit growth since last year in mortgage production, commercial lending, and Global Markets revenue demonstrates the power of deeper customer and client relationships as we intensify the focus on connecting all our capabilities."
For earnings history and earnings-related data on Bank Of America Corp. (BAC) click here.
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