Bank of America: Q1 Earnings Insights

Shares of Bank of America BAC fell 2.5% in pre-market trading after the company reported downbeat Q1 earnings.

Quarterly Results

Earnings per share decreased 42.86% year over year to $0.40, which missed the estimate of $0.48.

Revenue of $22,911,000,000 lower by 1.06% from the same period last year, which beat the estimate of $23.

Guidance

Bank of America hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 15, 2020

Time: 12:05 PM ET

Webcast URL: https://edge.media-server.com/mmc/p/yqcstvzc

Price Action

52-week high: $35.72

52-week low: $17.95

Price action over last quarter: down 32.32%

Company Description

Bank of America is one of the largest financial institutions in the United States, with more than $2.3 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, home mortgage lending, vehicle lending, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth management services, as does U.S. Trust private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries.