Bank of America is set to report fourth-quarter earnings — here's what the Street expects
Here's what Wall Street expects: Earnings: 68 cents a share, a 2.3% decline from a year earlier, according to Refinitiv.Trading Revenue: Fixed Income $1.68 billion, Equities $1.07 billion, according to FactSet
Bank of America CEO Brian Moynihan speaking on Squawk Box at the WEF in Davos Switzerland on Jan. 20th, 2019.posted profit that exceeded analysts' expectations on a rebound in trading revenue and as the company repurchased shares. The bank posted fourth-quarter profit of $74 cents a share, an unexpected increase that exceeded the 68 cent estimate of analysts surveyed by Refinitiv. Revenue of $22.5 billion edged out the $22.35 billion estimate.is among the most sensitive of large banks when it comes to changes in interest rates, according to analysts. So investors will be keen to hear how rates – which were cut three times last year by the Federal Reserve — impacted the quarter, as well as guidance for 2020.
as consumer spending continued to grow. He also said that fourth-quarter trading revenue is expected to climb 7% to 8% from a year earlier, and that investment banking revenue was headed 3% to 4% higher. Shares of the bank surged more than 40% last year, exceeding the 29% gain in the Standard & Poor's 500.
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