Bank of America delivers Q4 beat on strong net interest income

Investing.comJan 16, 2025 1:24 PM

View all comments（0）



Investing.com -- Bank of America (NYSE:BAC) reported better-than-expected results for the fourth quarter of fiscal 2024, sending its shares rising roughly 2% in premarket trading Thursday.

The bank reported earnings per share (EPS) of 82 cents, topping the consensus estimate of 77 cents.

Revenue, net of interest expense, was reported at $25.3 billion, also above the $25.13 billion projected by analysts.

BofA’s net interest income (NII) came in at $14.36 billion, above the expected $14.12 billion, while net interest income on a fully taxable equivalent (FTE) basis reached $14.51 billion, beating the $14.34 billion estimate.

The bank's return on average equity for the quarter was 9.37%, ahead of the forecasted 8.75%.

Return on average assets stood at 0.8%, above the 0.74% estimate, and return on average tangible common equity was 12.6%, surpassing the 11.9% projection.

"We finished 2024 with a strong fourth quarter. Every source of revenue increased, and we saw better than industry growth in deposits and loans,” said BofA Chair and CEO Brian Moynihan.

“We also ended with strong capital and liquidity, enabling us to return $21 billion of capital to shareholders in 2024. We believe this broad momentum sets up 2025 very well for Bank of America.”

Reviewed byTony

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Intel (INTC) Surged 8% Tuesday on Three Catalysts - Earnings Tomorrow

Intel surged 8.4% Tuesday on three confirmed catalysts: Xeon 8000 MT memory upgrade, expanded Google Cloud AI deal, and 18A cloud foundry commitment. 18A yields at 85%. Earnings Thursday. At $105, here is the setup.

Today’s Market Recap: Oil Prices Surge, Chip Stocks Rally, Micron, SanDisk, Western Digital Jump

TradingKey - On July 21 ET, the three major U.S. stock indices closed higher collectively, led by the Nasdaq. Despite Middle East tensions continuing to drive up oil prices and Treasury yields, investors returned to AI and semiconductor stocks following a sharp correction, leading to a notable recov

Semiconductors Trigger Short Squeeze: Kospi Surges Nearly 6%, Kioxia and SK Hynix Jump 9%, SoftBank and Samsung Rally Together

Japanese and South Korean stock markets extended their rally, with the KOSPI surging nearly 6% and the Nikkei 225 gaining nearly 2%. Kioxia and SK Hynix soared approximately 9%, while Samsung Electronics and SoftBank also followed the upward trend.

US Stocks Close: Three Major Indices Rebound Strongly, Philadelphia Semiconductor Index Rises Over 5%; Micron Soars 12%, Returns to $1 Trillion Market Cap; Strong Start to Earnings Season, Most Reporting Companies Beat Profit Expectations

TradingKey - This earnings season is off to a strong start, with 87% of the 54 S&P 500 components that have reported so far exceeding profit expectations. Additionally, reports that TSMC will raise prices by 10% next year boosted rallies in chip and memory stocks. U.S. stocks rebounded sharply, with all three major indices closing higher and the Philadelphia Semiconductor Index surging over 5%. At the close, the Dow Jones Industrial Average rose 0.74% to 52,224.64; the Nasdaq Composite Index gained 1.29% to 25,837.21; and the S&P 500 Index climbed 0.89% to 7,509.20.

Alphabet Q2 Earnings Preview: $190 Billion AI Gamble Faces Major Test, Can Google Cloud Still Sustain the Growth Myth?

TradingKey - Alphabet (GOOGL) (GOOG) will release its second-quarter 2026 financial results after the U.S. market close on July 22. As one of the world's most valuable technology companies by market capitalization, Alphabet’s business spans multiple sectors including search advertising, YouTube, Google Cloud, generative AI, and autonomous driving. Its earnings performance not only impacts its own stock price but is also regarded as a crucial bellwether for the global AI investment cycle.

Featured Tools