Shares of Bank of America reported earnings and revenue results for the fiscal Q1 2024 earnings that exceeded Wall Street estimates.BofA reported quarterly earnings per share of $0.83, beating the consensus projection of $0.76. The bank's revenue for the quarter reached $25.8 billion, surpassing the consensus forecast of $25.49 billion.
The bank's standardized Common Equity Tier 1 ratio stood firm at 11.8%, meeting the estimated figure. “Our Wealth Management team generated record revenue, with record client balances, and investment banking rebounded. Bank of America's sales and trading businesses continued their strong 2023 momentum this quarter, reporting the best first quarter in over a decade.”Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.