Bank of America Second Quarter 2024 Earnings: EPS Beats Expectations

Bank of America (NYSE:BAC) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$23.9b (flat on 2Q 2023).
• Net income: US$6.58b (down 7.3% from 2Q 2023).
• Profit margin: 28% (down from 30% in 2Q 2023).
• EPS: US$0.83 (down from US$0.88 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bank of America EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.9%.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 5.2% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Bank of America's balance sheet and an in-depth analysis of the company's financial position.

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