Bank of America Earnings Results (Q2, 2017)

Bank of America, BAC stock, has announced its second quarter financial results. According to the announcement;

  • BAC reported higher than expected quarterly profit
  • Higher profits has been provided by cost cuts and strength in its consumer bank
  • BAC’s CEO told that $2 billion quarterly profit was a “milestone”
  • Consumer banking helped BAC deliver net income of 46 cents per share, 11 percent higher from the year-ago period
  • BAC’s total revenue was $23.07 billion,¬†up 7% from the prior-year quarter
  • Results contained $103 million of after-tax gains related to the sale of its non-U.S. consumer credit card business
  • Net interest income grew 9% year over year to $11.2 billion
  • Non-interest income rose 6% from the year-ago quarter to $11.8 billion