Fred Imbert 3 minutes Brian Moynihan, CEO of Bank of America Heidi Gutman | CNBC Bank of America reported on Wednesday better-than-expected profit and revenue for the fourth quarter, driven by a strong performance from its consumer-banking business and lower taxes. The results sent the bank’s shares up more than 3 percent in the premarket. Here is how the bank did in the previous quarter compared to analyst expectations: Earnings: 73 cents per share vs 63 cents expected, according to Refinitiv Revenue: $22.7 billion versus a forecast of $22.397 billion Bank of America’s quarterly profit tripled to $7.3 billion, a record. The bank also said it bought back $26 billion in common stock. “Operating leverage based on disciplined expense management while investing in our future, solid asset quality, and loan and deposit growth drove this quarter’s results,” CEO Brian Moynihan said in a statement. “Through the trillions of dollars of con
Our Mission is to keep our audience with an uninterrupted stream of selected financial information from different serious sources, with the objective to provide online tools with information about investments in the financial markets. We supply you, with the following among other information: Asia Markets Closing Report, Europe Markets Closing Report, Wall Street Market Closing Report, Market News, Commodities Daily Price Report, Daily Treasury Yields Report, EU/FX Daily Report, Politics.