Bank of America Q1 earnings beat expectations

(Sharecast News) - Banking giant Bank of America posted first‑quarter earnings that came in ahead of Wall Street expectations on Tuesday, helped by a revival in investment‑banking activity and stronger sales and trading revenue amid market volatility. Bank of America said net interest income on an FTE basis totalled $15.9bn, above the $15.7bn expected by economists, broadly unchanged from the prior quarter and higher than the $14.6bn recorded at the same time a year earlier, while non‑interest income increased to $14.5bn, compared with a $14.4bn consensus, rising from $12.6bn in the previous quarter and $13.8bn last year.

Earnings per share rose to $1.11, beating the $1.02 analysts had pencilled in and coming in ahead of the $0.98 reported in the fourth quarter of 2025.

Provisions for credit losses stood at $1.34bn, below the $1.50bn expected but slightly higher than the $1.31bn booked in the fourth quarter.

Chief executive Mrian Moynihan said: "Revenue growth of 7% year-over-year included net interest income that was better than we expected, up 9%, as well as double-digit growth in sales and trading revenue, investment banking fees, and asset management fees."

As of 1400 BST, Bank of America shares were up 0.79% in pre-market trading at $53.77 per share.





Reporting by Iain Gilbert at Sharecast.com