Recap: Bank of America Q2 Earnings

Shares of Bank of America BAC fell 1.8% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 50.00% over the past year to $0.37, which beat the estimate of $0.27.

Revenue of $22,454,000,000 declined by 3.35% year over year, which beat the estimate of $22,010,000,000.

Guidance

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

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

Details Of The Call

Date: Jul 16, 2020

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/ogjgtvk4

Technicals

Company's 52-week high was at $35.72

52-week low: $17.95

Price action over last quarter: Up 14.71%

Company Overview

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.