Form 8-K BANK OF AMERICA CORP For: Oct 14

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Go back to Form 8-K BANK OF AMERICA CORP For: Oct 14

Bank of America (BAC) Tops Q3 EPS by 2c, Revenues Fall 11%

October 14, 2020 6:48 AM EDT

Bank of America (NYSE: BAC) reported Q3 EPS of $0.51, $0.02 better than the analyst estimate of $0.49. Revenue for the quarter fell 11% to $20.3 billion versus the consensus estimate of $20.81 billion.

Net income of $4.9 billion, or $0.51 per diluted shareProvision for credit losses increased to $1.4 billion, driven by COVID-19 impacts in commercialRevenue, net of interest expense, decreased 11% to $20.3 billionNet interest income (NII)(D) down 17% to $10.1 billion, driven by lower interest ratesNoninterest... More