On Tuesday, Bank of America released its earnings report. Sergio Flores/Bloomberg is credited for the photograph. (Photo by Sergio Flores, courtesy of Bloomberg News)
Earnings for the first quarter of the year have been released by Bank of America this morning. The bank with its headquarters in Charlotte, North Carolina, is the second largest in the country.
Bank of America made $8.16 billion, which is a 15% increase over the $7.07 billion it made the previous year.
That works out to 94 cents per share, which is significantly higher than the 81 cents that analysts polled by FactSet anticipated.
The amount of revenue reached $26.26 billion, representing a 13% increase from the previous year. This result was significantly more than the expected $25.16 billion.