Market Overview

UPDATE: Bank of America Posts Q1 Loss

Share:
Related BAC
Mid-Day Market Update: Tuesday's Top 10 Volume Stocks
Mid-Day Market Update: Monday's Top 10 Volume Stocks
Performance Of 25 Largest S&P 500 Stocks In 2015 (Seeking Alpha)

Bank of America (NYSE: BAC) reported a net loss in the first quarter.

Bank of America posted a quarterly net loss of $276 million, or $0.05 per share, versus a year-ago profit of $1.5 billion, or $0.10 per share. The results include a pretax litigation expense of $6 billion, or around $0.40 per share after tax.

Its total net revenue slipped to $22.77 billion versus $23.41 billion, while revenue net of interest expense fell to $22.57 billion versus $23.20 billion. However, analysts were estimating earnings of $0.05 per share on revenue of $22.32 billion.

Bank of America shares fell 0.55% to $16.30 in pre-market trading.

Posted-In: lossEarnings News

 

Related Articles (BAC)

Get Benzinga's Newsletters