BofA: Quarterly Profit Exceeds Expectations But Revenues Falling

Bank of America reported a profit of 59 cents, compared to expectations of 55 cents, according to Refinitiv estimates. Quarterly revenues decreased by 10% to $ 20.2 billion compared to the same quarter of the previous year, which fell below expectations of $ 500 million.

The following are the bank’s results and expectations:

Earnings per share: 59 cents per share, against expectations of 55 cents, according to Refinitiv

Revenue: $ 20.2 billion, versus forecast 20.7 billion.