$BAC (+1.71%) | Bank of America Q3'24 Earnings Highlights:

🔹 EPS: $0.81 (Est. $0.77) 🟢

🔹 Revenue: $25.35B (Est. $25.27B) 🟢; UP 1% YoY

🔹 Net Interest Income (FTE): $14.11B (Est. $14.07B) 🟢

🔹 Net Interest Income: $14.0B; DOWN $0.4B YoY

🔹 Net Interest Yield: 1.92% (Est. 1.93%) 😐; DOWN 19 bps YoY

🔹 Provision for Credit Losses: $1.54B (Est. $1.53B) 😐; UP 25% YoY

🔹 Net Charge-offs: $1.53B (Est. $1.5B) 😐; UP 65% YoY

🔹 Non-interest Expense: $16.48B (Est. $16.49B 😐); UP 4% YoY

Segment Performance:

Consumer Banking:

🔸 Net Income: $2.7B; DOWN 7% YoY

🔸 Revenue: $10.4B; DOWN 1% YoY

🔸 Combined Credit/Debit Card Spend: $232B; UP 3% YoY

🔸 Consumer Investment Assets: Record $497B; UP 28% YoY

Global Wealth & Investment Management:

🔸 Net Income: $1.9B; DOWN 6% YoY

🔸 Revenue: $5.76B (Est. $5.63B) 🟢; driven by 14% growth in asset management fees

🔸 Client Balances: Record $4.2T; UP 18% YoY

Global Markets:

🔸 Sales & Trading (excl. DVA): $4.94B (Est. $4.57B) 🟢; UP 12% YoY

🔸 FICC Trading (excl. DVA): $2.94B (Est. $2.77B) 🟢; UP 8% YoY

🔸 Equities Trading (excl. DVA): $2.00B (Est. $1.81B) 🟢; UP 18% YoY

Investment Banking:

🔸 Revenue: $1.40B (Est. $1.24B) 🟢

Profitability Metrics:

🔹 Return on Average Equity: 9.44% (Est. 9.01%)

🔹 Return on Average Assets: 0.83% (Est. 0.78%)

🔹 Return on Average Tangible Common Equity: 12.8% (Est. 12.2%)

Balance Sheet:

🔹 Total Loans: $1.08T (Est. $1.07T); UP 1% YoY

🔹 Total Deposits: $1.93T (Est. $1.93T); DOWN 4% YoY

Capital Ratios:

🔹 Standardized CET1 Ratio: 11.8% (Est. 11.9%)

🔹 Basel III CET1 Ratio (Advanced Approach): 13.5% (Est. 13.5%)

Additional Highlights:

🔹 Compensation Expenses: $9.92B (Est. $9.90B)

🔹 Non-interest Expenses: $16.48B (Est. $16.49B)

🔹 Allowance for Loan Losses: $13.3B, representing 1.24% of total loans

🔹 Efficiency Ratio: 65%; compared to 63% in Q3 2023