Bank of America Third Quarter 2024 Earnings: EPS Beats Expectations

Simply Wall St · 10/16 10:00

Bank of America (NYSE:BAC) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$23.8b (flat on 3Q 2023).
  • Net income: US$6.38b (down 12% from 3Q 2023).
  • Profit margin: 27% (down from 30% in 3Q 2023).
  • EPS: US$0.82 (down from US$0.91 in 3Q 2023).
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NYSE:BAC Earnings and Revenue Growth October 16th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bank of America EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 5.5% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Bank of America has 1 warning sign we think you should be aware of.