Bank of America Q1 Profit Hits $8.6B, Tops Street Estimates
Bank of America ($BAC) reported first-quarter net income of $8.6 billion, up 17% from a year earlier, as earnings per share came in at $1.11, beating the $1.01 consensus estimate and marking the bank's highest EPS in nearly two decades.
Revenue rose 7.2% to $30.43 billion, ahead of the $29.93 billion estimate, supported by higher net interest income, stronger trading results, and improved investment banking fees. Equities trading revenue surged 30% to $2.83 billion, delivering the bank's best trading quarter in 15 years. Investment banking revenue climbed 21% to $1.8 billion. Net interest income increased 9% to $15.9 billion.
CEO Brian Moynihan said the bank generated 290 basis points of operating leverage, helping lift returns on equity and assets.
The results follow strong Q1 reports from @JPMorgan, which posted a 13% profit increase, and @GoldmanSachs, up 19%, reinforcing optimism about U.S. corporate fundamentals despite ongoing geopolitical headwinds.