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Compared to Estimates, Bank of America (BAC) Q2 Earnings: A Look at Key Metrics
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Bank of America (BAC - Free Report) reported $25.38 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.7%. EPS of $0.83 for the same period compares to $0.88 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.19 billion, representing a surprise of +0.76%. The company delivered an EPS surprise of +5.06%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio (FTE basis): 63.9% versus the seven-analyst average estimate of 61.8%.
Net interest income/yield on earning assets - Yield/rate: 1.9% versus 2% estimated by seven analysts on average.
Total earning assets - Average balance: $2,887.94 billion versus $2,849.82 billion estimated by seven analysts on average.
Book value per share of common stock: $34.39 versus $34.29 estimated by seven analysts on average.
Net charge-off / Average Loans: 0.6% compared to the 0.5% average estimate based on six analysts.
Total nonperforming loans, leases and foreclosed properties: $5.69 billion compared to the $6.20 billion average estimate based on five analysts.
Total Non-Performing Loans: $5.47 billion versus $6.14 billion estimated by four analysts on average.
Tier 1 Capital Ratio: 13.5% versus the four-analyst average estimate of 13.5%.
Tier 1 Leverage Ratio: 7% compared to the 7.1% average estimate based on three analysts.
Net Interest Income- Fully taxable-equivalent basis: $13.86 billion versus $13.94 billion estimated by seven analysts on average.
Total Noninterest Income: $11.68 billion versus the seven-analyst average estimate of $11.37 billion.
Card income: $1.58 billion versus $1.56 billion estimated by six analysts on average.
Shares of Bank of America have returned +6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Bank of America (BAC) Q2 Earnings: A Look at Key Metrics
Bank of America (BAC - Free Report) reported $25.38 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.7%. EPS of $0.83 for the same period compares to $0.88 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $25.19 billion, representing a surprise of +0.76%. The company delivered an EPS surprise of +5.06%, with the consensus EPS estimate being $0.79.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Bank of America performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (FTE basis): 63.9% versus the seven-analyst average estimate of 61.8%.
- Net interest income/yield on earning assets - Yield/rate: 1.9% versus 2% estimated by seven analysts on average.
- Total earning assets - Average balance: $2,887.94 billion versus $2,849.82 billion estimated by seven analysts on average.
- Book value per share of common stock: $34.39 versus $34.29 estimated by seven analysts on average.
- Net charge-off / Average Loans: 0.6% compared to the 0.5% average estimate based on six analysts.
- Total nonperforming loans, leases and foreclosed properties: $5.69 billion compared to the $6.20 billion average estimate based on five analysts.
- Total Non-Performing Loans: $5.47 billion versus $6.14 billion estimated by four analysts on average.
- Tier 1 Capital Ratio: 13.5% versus the four-analyst average estimate of 13.5%.
- Tier 1 Leverage Ratio: 7% compared to the 7.1% average estimate based on three analysts.
- Net Interest Income- Fully taxable-equivalent basis: $13.86 billion versus $13.94 billion estimated by seven analysts on average.
- Total Noninterest Income: $11.68 billion versus the seven-analyst average estimate of $11.37 billion.
- Card income: $1.58 billion versus $1.56 billion estimated by six analysts on average.
View all Key Company Metrics for Bank of America here>>>Shares of Bank of America have returned +6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.