:max_bytes(150000):strip_icc()/GettyImages-2208740340-811ef922584a4287941b9c621113d890.jpg?w=1920&resize=1920,1267&ssl=1 "Bank of America Surpasses Estimates as CEO Notes Possible ‘Changing Economy’")
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Bank of America (BAC) shares increased premaraket trading on Tuesday after the results of the first quarter of financial giants increased.
The firm recorded an income of $ 0.90 (EPS) at a revenue of $ 27.37 billion (EPS). Analysts were estimating $ 0.82 and $ 26.80 billion respectively, per visible alpha.
Bank of America reported a net interest income (NII) of $ 14.44 billion in accordance with the analyst consensus.
Thus, despite the quite strong-to-preceded Q1 results so far, many officials in large banks have increased on the macroeconomic outlook for 2025, amid uncertainty about how the Trump administration’s tariffs will affect the economy.
Bank of America CEO Brian Mionihan said, “Our business customers are performing well; and consumers have shown flexibility, healthy credit continues to spend and maintain quality.” He said that the Bank of America grows well, “Although we potentially face a changing economy in the future.”
Bank of America shares, which were at the top of estimates in each quarter of 2024, were about 2% up immediately after the report. He entered about 17% day since the beginning of the year.
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