TELETRADER News
4/18, 12:46 PM (Source: TeleTrader)
more TeleTrader news

Bank of America's Q1 revenue up by 1.75% to $23.2B

The Bank of America Corporation (BoA) announced on Monday its total revenue in the first quarter of the year saw an annual rise of 1.75% to reach $23.2 billion. On the other hand, its net income declined by 12.35% in comparison to the same trimester the year before to land at $7.1 billion. Meanwhile, the bank's diluted earnings per share (EPS) fell by 6.98% year-on-year to $0.80 per share.

"First quarter results were strong despite challenging markets and volatility, which we believe reflect the value of our Responsible Growth strategy. [...] Going forward, and with the forward curve expectation of rising interest rates, we anticipate realizing more of the benefit of our deposit franchise," BoA Chief Executive Officer (CEO) Alastair Borthwick commented on the results.

Following the release of the results, the Bank of America's shares grew by 0.88% in premarket trading.

Baha Breaking News (BBN) / JR