🔹 EPS: $0.90 (Est. $0.82) 🟢
🔹 Revenue (Net of Interest Expense): $27.37B (Est. $25.78B) 🟢; UP +6% YoY
🔹 Net Interest Income (FTE): $14.59B (Est. $14.57B) 🟢
🔹 Total Deposits: $1.99T (Est. $1.97T) 🟢
🔹 Provision for Credit Losses: $1.48B (Est. $1.53B) 🟡
🔹 Net Charge-offs: $1.45B (Est. $1.52B) 🔴
🔹 Noninterest Expenses: $17.77B (Est. $17.62B) 🔴
Segment Performance:
Consumer Banking
🔹 Net Income: $2.5B
🔹 Revenue: $10.5B; UP +3% YoY
🔹 Loans & Leases: $315B; UP +1% YoY
🔹 Combined Card Spend: $228B; UP +4% YoY
🔹 Digital-enabled Sales: 65% of total
🔸 ~250K net new consumer checking accounts (25th straight quarter of growth)
🔸 Active Mobile Users: 40.5M; UP +5% YoY
Global Wealth & Investment Management
🔹 Net Income: $1.0B
🔹 Revenue: $6.0B (Est. $6.0B) 🟢
🔹 Client Balances: $4.2T; UP +5% YoY
🔹 AUM: $1.91T; AUM Flows: $24B
🔸 Pretax Margin: 22%
🔸 Merrill Digitally Active Clients: 87%
Global Banking
🔹 Net Income: $1.9B
🔹 Revenue: $6.0B; Flat YoY
🔹 Investment Banking Revenue: $1.52B (Est. $1.55B) 🔴
🔸 Middle Market Average Loans: UP +4%
🔸 Stronger treasury service charges, lower CRE provisions
Global Markets
🔹 Net Income: $1.9B
🔹 Trading Revenue (ex-DVA): $5.65B (Est. $5.55B) 🟢
🔹 FICC (ex-DVA): $3.46B (Est. $3.47B) 🟡
🔹 Equities (ex-DVA): $2.18B (Est. $2.06B) 🟢
🔸 Sales & Trading Revenue: $5.7B; UP +11% YoY
Capital, Liquidity & Shareholder Returns:
🔹 CET1 Ratio (Standardized): 11.8% (Est. 11.8%) 🟡
🔹 CET1 Ratio (Advanced): 13.3% (Est. 13.5%) 🔴
🔹 Book Value / Share: $36.39; UP +8% YoY
🔹 Tangible Book Value / Share: $27.12; UP +9% YoY
🔹 Dividends: $2.0B
🔹 Share Buybacks: $4.5B
CEO Brian Moynihan's Commentary:
🔸 "Strong quarter, driven by higher NII and 12th consecutive quarter of YoY trading revenue growth. Clients show resilience despite macro shifts. Our diversified model and responsible growth strategy position us for strength across economic cycles."