Bank of America Chairman and CEO Brian Thomas Moynihan testifies during a Wall Street oversight hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, December 6, 2023.
Saul Loeb | AFP | Getty Images
Bank of America is scheduled to report first-quarter earnings before the opening bell on Tuesday.
Here’s what Wall Street expects:
- Earnings: 76 cents a share, according to LSEG
- Revenue: $25.46 billion
- Provision for credit losses: $1.4 billion, according to StreetAccount
- Trading: Fixed income of $3.24 billion and stocks of $1.84 billion
Will Bank of America follow rivals in posting better-than-expected Wall Street earnings?
That is one of the main questions later JPMorgan Chase, Citigroup and Goldman Sachs all top ratings with help from trading and investment banking.
Bank of America’s Chief Financial Officer, Alastair Borthwick, told analysts last month to expect investment banking revenues to rise 10% to 15% from a year earlier, and for trading results to be roughly flat.
Analysts will also focus on the bank’s net interest income, which has declined in recent quarters as financing costs have climbed alongside rising interest rates.
This story is evolving. Please check back for updates.
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