Bank of America on Tuesday reported first-quarter earnings that topped analysts’ estimates for profit and revenue on better-than-expected interest income and investment banking. Here’s what the company reported: Earnings: 83 cents a share adjusted, vs. 76 cents LSEG estimate Revenue: $25.98 billion, vs. expected $25.46 billion The bank said profit fell 18% to $6.67 billion, or...
Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year’s regional banking crisis and CEO Jane Fraser’s corporate overhaul. All told, the charges — so massive the bank preannounced their effect this week — hit quarterly earnings by $4.66 billion, or $2 per share, Citigroup...
Bank of America shares fell Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges. Here’s what the company reported compared to Wall Street expectations, according to LSEG, formerly known as Refinitiv: Earnings per share: 70 cents, adjusted vs. 68 cents expected. Revenue: $22.1 billion vs. $23.74 billion expected. Bank of America said...
CEO David Solomon, Goldman Sachs, during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: Earnings: $3.18 per share, according to Refinitiv Revenue:...
Brian Moynihan, CEO of Bank of America Corp., during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., Sept. 22, 2022. Al Drago | Bloomberg | Getty Images Bank of America on Tuesday posted second-quarter profit and revenue that edged out expectations as the company reaped more interest income amid higher rates....