Recap: Bank of America Q3 Earnings

Shares of Bank of America BAC moved lower by 2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 32.00% year over year to $0.51, which beat the estimate of $0.49.

Revenue of $20,450,000,000 decreased by 10.91% year over year, which missed the estimate of $20,810,000,000.

Guidance

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

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

Details Of The Call

Date: Oct 14, 2020

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/3wm2jpvf

Technicals

52-week high: $35.72

Company's 52-week low was at $17.95

Price action over last quarter: Up 7.36%

Company Profile

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.