In a note published on Friday, July 10 analysts led by David Kostin, said they expect earnings per share to plunge almost two-thirds in the second quarter compared to the same period in 2019.
"If realized, 2Q 2020 EPS growth would be the weakest since 4Q 2009," the analysts said, noting that EPS fell 65% in that quarter. However, the bank maintained its previous EPS forecast for full year 2021 at $170, up 48% from 2020. For the year 2022, the US banking giant says EPS will continue to rise, hitting $188, a gain of 11%.
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