Bank of America: Q4 beats consensus
(CercleFinance.com) - Bank of America has reported Q4 2019 net income that is down 4% at 7 billion dollars, i.
e. 74 cents per share, with EPS still five cents above the consensus.
The financial institution's revenue, net of interest expense, fell 1% to 22.3 billion dollars, with a 3% decrease in net interest income due to lower interest rates, while partly offset by growth in loans and deposits.
"As evidenced by a quarter in which our customer deposits surpassed $1.4 trillion and client balances in our wealth management business topped $3 trillion, we enter 2020 with momentum," said Chairman and CEO Brian Moynihan.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
e. 74 cents per share, with EPS still five cents above the consensus.
The financial institution's revenue, net of interest expense, fell 1% to 22.3 billion dollars, with a 3% decrease in net interest income due to lower interest rates, while partly offset by growth in loans and deposits.
"As evidenced by a quarter in which our customer deposits surpassed $1.4 trillion and client balances in our wealth management business topped $3 trillion, we enter 2020 with momentum," said Chairman and CEO Brian Moynihan.
Copyright (c) 2020 CercleFinance.com. All rights reserved.