Bank of America Corp
BAC: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$92.00 | Sgk | Fqhcwjjcv |
Bank of America Reports Q3 Results Largely as Expected; Net Interest Income Still Climbing
Wide-moat-rated Bank of America reported third-quarter earnings of $0.81, roughly in line with the Factset consensus of $0.78 and just below our own estimate of $0.88. The main difference between or own estimates and Bank of America’s results were expenses, which came in 4% above our expectations. A legal charge in the quarter accounted for roughly half of this difference. Top-line revenue on a reported basis came in at $24.5 billion, in line with our own estimate of $24.4 billion and above consensus of $23.5 billion.