โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Adj. EPS: $1.08 (Est. $1.10) โ
โข Revenue: $30.0B (Est. $30.54B) โ, +3% YoY.
โข GAAP EPS: $0.91 (vs. $1.04 YoY).
โข GAAP Net Income: $6.9B (vs. $8.3B YoY).
โข Adj. Net Income: $8.1B.
โข Net Interest Income: $16.4B, +8% YoY.
โข Consumer Banking Revenue: $11.6B, +4% YoY.
โข Wealth Management Revenue: $7.1B, +13% YoY.
โข Global Banking Revenue: $6.2B, broadly flat YoY.
โข Global Markets Revenue: $5.9B, -6% YoY.
โข Adj. Efficiency Ratio: 62% | Adj. ROTCE: 14.9%.
โ
๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 Adj. EPS missed consensus by ~1.8%, while revenue fell ~1.8% short of estimates.
โข Results included a $1.2B regulatory settlement charge, reducing GAAP EPS by $0.17.
โข Net interest income rose 8% YoY to $16.4B, supported by loan and deposit growth and fixed-rate asset repricing.
โข Wealth Management revenue climbed 13%, with asset management fees up 16% to $4.5B and client balances reaching $5.1T.
โข Sales and trading revenue declined 5% to $5.1B, with FICC down 17% to $2.6B, partially offset by 11% growth in equities to $2.5B.
โข Investment banking fees fell 11% to $1.8B, while average loans grew 6% to $1.23T.
โข Bank of America returned $8.3B to shareholders, including $6.0B in share repurchases and $2.2B in dividends.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โOur momentum, reflected in growth in client deposits, wealth flows and consumer activity, supported solid earnings, balance-sheet growth and long-term shareholder value.โ