FMP
Bank of America Delivers Strong Q4 Results
Jan 16, 2025 5:15 PM - Davit Kirakosyan
Image credit: FMP
Bank of America (NYSE:BAC) posted better-than-expected results for the fourth quarter of fiscal 2024. The bank's performance highlighted robust earnings growth, solid revenue figures, and notable returns on equity and assets.
Earnings per share for the quarter came in at 82 cents, exceeding analysts’ expectations of 77 cents. Total revenue, net of interest expense, reached $25.3 billion, slightly surpassing the projected $25.13 billion.
Net interest income (NII) was another bright spot, coming in at $14.36 billion, above the forecasted $14.12 billion. On a fully taxable equivalent (FTE) basis, NII rose to $14.51 billion, outperforming estimates of $14.34 billion.
Key profitability metrics also exceeded expectations. The bank reported a return on average equity of 9.37%, ahead of the projected 8.75%, and a return on average tangible common equity of 12.6%, surpassing the 11.9% estimate. Return on average assets was 0.8%, topping the Street forecast of 0.74%.
Other Blogs
May 27, 2024 3:30 PM - Rajnish Katharotiya
The best 5 GPU stocks other than NVDA
In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...
Jun 6, 2024 2:47 AM - Parth Sanghvi
ROE vs ROA: Which Metric is More Important for Investors?
ROE vs. ROA: Which Metric is More Important for Investors? When evaluating a company's financial performance, investors often rely on various metrics to gauge profitability and efficiency. Two commonly discussed metrics are Return on Equity (ROE) and Return on Assets (ROA). Understanding the diff...
Jun 6, 2024 2:57 AM - Parth Sanghvi
DCF vs NPV: Which Valuation Method Should You Use?
When it comes to valuing an investment or a business, two of the most commonly used methods are Discounted Cash Flow (DCF) and Net Present Value (NPV). Both methods are essential tools in finance, but they serve slightly different purposes and are used in different contexts. This guide will explore ...
