Group 1: Earnings Reports - Goldman Sachs (GS) reported first-quarter earnings, followed by Bank of America Corp (BAC) and Citigroup Inc (C) [1] - BAC's first-quarter earnings and revenue exceeded expectations, with a notable increase in net interest income and trading revenue, leading to a 4.4% rise in stock price to $38.32 [1] - Citigroup's stock increased by 3% to $65.16 after its top-line results also beat expectations, marking a 12% year-over-year increase [3] Group 2: Stock Performance - BAC's stock is down 13% in 2025, recovering from an 18-month low of $33.06 on April 9 [1] - Citigroup's shares are still significantly below their 17-year high of $84.74 reached on February 18 [3] Group 3: Options Activity - Over 110,000 calls have been traded for BAC, which is five times the average intraday volume, with significant interest in the April 39- and 40-strike options [2] - Citigroup's options activity is also notable, with over 26,000 calls traded in the first hour, double the average intraday volume, particularly in the April 67 and 65 calls [4]

Bank of America (BAC) reported $27.37 billion in revenue for the quarter ended March 2025, representing a year-over-year increase of 6%. EPS of $0.90 for the same period compares to $0.83 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $26.86 billion, representing a surprise of +1.89%. The company delivered an EPS surprise of +11.11%, with the consensus EPS estimate being $0.81.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Bank of America beat expectations with a strong Q1 2025 earnings report.Bank of America (BAC 3.25%), a major player in the financial services industry, released its earnings for Q1 2025 on April 15, 2025. The quarter was marked by a significant earnings beat with EPS (GAAP) coming in at $0.90, outperforming market expectations by 9.8%. Revenue (GAAP) totaled $27.37 billion, surpassing estimates by $393 million or 1.5%. Overall, the quarter highlighted Bank of America's strong operational performance and str ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Bank of America (BAC) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this nation's second-largest bank would post earnings of $0.77 per share when it actually produced earnings of $0.82, delivering a surprise of 6.49%.Over the last four qua ...

Bank of America topped estimates for first-quarter profit as interest income grew and volatile markets helped its stock traders rake in a record haul. As markets whipsawed around U.S. President Donald Trump's tariff policies, BofA brought in 9% higher trading revenue, mirroring trends seen at rivals."Though we potentially face a changing economy in the future, we believe the disciplined investments we have made for high-quality growth, our diverse set of businesses and the team's relentless focus on respons ...

Financial Data and Key Metrics Changes - Bank of America reported a net income of $7.4 billion and earnings per share (EPS) of 90 cents for Q1 2025, reflecting a year-over-year revenue growth of 6%, net income growth of 11%, and EPS growth of 18% [8][25] - The return on assets was 89 basis points, and the return on tangible common equity was 14% [8] - Net interest income (NII) grew by 3% year-over-year, reaching $14.4 billion on a GAAP basis [39] Business Line Data and Key Metrics Changes - Consumer banking generated $10.5 billion in revenue and $2.5 billion in net income, with revenue growth of 3% year-over-year [55] - Wealth management reported revenue of $6 billion, growing 8% year-over-year, with net income of $1 billion [60] - Global banking produced earnings of $1.9 billion, with revenue flat at $6 billion compared to the previous year [63] - Global markets earned $1.9 billion, with revenue improving by 10% year-over-year [66] Market Data and Key Metrics Changes - Deposits reached nearly $2 trillion, growing 8% from mid-2023 lows, marking the seventh consecutive quarter of deposit growth [9][35] - Commercial loans grew by 7% year-over-year, with a modest increase in revolver utilization noted [37] - Consumer spending across various methods grew at a pace of 4.4% in Q1 2025 compared to Q1 2024 [19] Company Strategy and Development Direction - The company continues to focus on organic growth across its business lines, with significant investments in commercial banking and wealth management [14][98] - Bank of America is leveraging technology, including artificial intelligence, to enhance efficiency and client engagement [100] - The company aims to maintain a strong balance sheet with over $200 billion in regulatory capital and nearly $1 trillion in liquidity [12][32] Management's Comments on Operating Environment and Future Outlook - Management does not anticipate a recession in 2025 but has lowered GDP growth expectations [18] - The company is prepared for potential economic changes, emphasizing the strength of its credit portfolios and capital [70][71] - Consumer spending remains robust, with a 5% growth rate observed in early April 2025 [126] Other Important Information - Non-interest expenses were reported at $17.8 billion, up from the previous quarter, driven by seasonal payroll taxes and litigation costs [27][50] - The tangible book value per share increased by 9% year-over-year to $27.12 [32] Q&A Session Summary Question: Capital management and CET1 ratio comfort level - Management indicated flexibility in capital management and emphasized the importance of maintaining a strong CET1 ratio while growing into the capital base [96] Question: Outlook for loan and deposit growth - The strength in loan and deposit growth is attributed to investments in commercial banking and enhanced efficiency through technology [98][100] Question: Loan loss reserve dynamics - The reserve was set using blue chip economic indicators, reflecting a cautious approach to economic growth and inflation [106][108] Question: Expense outlook for the year - Management confirmed that the expense growth expectation remains at 2% to 3% for the full year [113] Question: Impact of interest rate cuts on NII target - Management maintains the NII target for Q4 2025 despite anticipated interest rate cuts, emphasizing the company's historical earnings power [120][123] Question: Near-term business segment activity amid volatility - Increased customer activity in global markets was noted, with no significant deposit flight observed [125]

Financial Performance - Net interest income for Q1 2025 was $14,443 million, an increase of 0.6% from Q4 2024's $14,359 million[7] - Noninterest income rose to $12,923 million in Q1 2025, up 17.6% from $10,988 million in Q4 2024[7] - Total revenue, net of interest expense, reached $27,366 million, a 7.9% increase compared to $25,347 million in Q4 2024[7] - Net income for Q1 2025 was $7,396 million, representing a 10.9% increase from $6,665 million in Q4 2024[9] - Diluted earnings per common share increased to $0.90 in Q1 2025, compared to $0.82 in Q4 2024[8] - The efficiency ratio improved to 64.93% in Q1 2025, down from 66.23% in Q4 2024[7] - Total revenue, net of interest expense, reached $27,511 million in Q1 2025, compared to $25,501 million in Q4 2024[16] - Net income for Q1 2025 was $7,396 million, up from $6,665 million in Q4 2024[18] Asset and Deposit Growth - Total assets increased to $3,349,424 million as of March 31, 2025, up from $3,261,519 million at the end of 2024, representing a growth of approximately 2.7%[11] - Total deposits grew to $1,989,564 million in Q1 2025, compared to $1,965,467 million in Q4 2024, reflecting an increase of approximately 1.2%[11] - Total assets increased to $3,351,423 million in Q1 2025 from $3,318,094 million in Q4 2024, reflecting a growth of 1.0%[14] - Total deposits at the end of Q1 2025 were $1,989,564 million, up from $1,965,467 million at the end of Q4 2024[18] Credit Losses and Provisions - Provision for credit losses was $1,480 million, slightly higher than $1,452 million in Q4 2024[8] - The provision for credit losses in Q1 2025 was $1,480 million, compared to $1,452 million in Q4 2024[18] - The allowance for loan and lease losses remained stable at $13,256 million in Q1 2025, slightly up from $13,240 million in Q4 2024[11] - The allowance for credit losses totaled $14,366 million as of March 31, 2025, with a reserve for unfunded lending commitments of $1,110 million[36] Capital Ratios and Equity - As of March 31, 2025, the Common Equity Tier 1 capital stands at $201,177 million, a slight increase from $201,083 million in December 31, 2024[12] - The Total Capital under the Standardized approach is $256,443 million, compared to $255,363 million at the end of 2024[13] - The Common Equity Tier 1 capital ratio is reported at 11.8% as of March 31, 2025, down from 11.9% in December 31, 2024[12] - Total common shareholders' equity increased to $275,082 million as of March 31, 2025, compared to $272,400 million in December 31, 2024[13] Segment Performance - Net interest income for the Global Wealth & Investment Management segment was $1,765 million in Q1 2025, compared to $1,753 million in Q4 2024, an increase of 0.7%[22] - Net income for the Global Wealth & Investment Management segment decreased to $1,007 million in Q1 2025 from $1,171 million in Q4 2024, a decline of 13.9%[22] - Net interest income in the Global Banking segment for Q1 2025 was $3,151 million, down from $3,270 million in Q4 2024, representing a decrease of about 3.6%[24] - Total revenue, net of interest expense, for the Global Banking segment was $5,977 million in Q1 2025, compared to $6,091 million in Q4 2024, a decline of approximately 1.9%[24] Nonperforming Loans and Credit Quality - Nonperforming loans, leases, and foreclosed properties were $2,987 million in Q1 2025, slightly up from $2,970 million in Q4 2024[25] - Nonperforming consumer loans and leases decreased to $2,613 million in Q1 2025 from $2,647 million in Q4 2024, a reduction of 1.3%[34] - Total nonperforming commercial loans and leases increased to $3,470 million in Q1 2025 from $3,328 million in Q4 2024, an increase of 4.3%[34] Miscellaneous - The corporation uses non-GAAP financial measures to provide additional clarity in understanding its results of operations and trends[38] - The corporation's return on average tangible common shareholders' equity is a key measure for evaluating its growth goals[37] - Book value per share of common stock rose to $36.39 in Q1 2025, up from $33.71 in Q4 2024, indicating improved shareholder value[39] - Tangible book value per share of common stock increased to $27.12 in Q1 2025 from $24.79 in Q4 2024, reflecting a positive trend in tangible equity per share[39]

CHARLOTTE, N.C., April 15, 2025 /PRNewswire/ -- Bank of America reported its first quarter 2025 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in an investor conference call at 8:30 a.m. ET ...

Brian Moynihan, chief executive officer of Bank of America Corp., during a Bloomberg Television interview in New York, US, on Tuesday, March 19, 2024.Bank of America is scheduled to report first-quarter earnings before the opening bell Tuesday.Here's what Wall Street expects:Earnings: 82 cents per share, according to LSEGRevenue: $26.99 billion, according to LSEGProvision for loan losses: $1.58 billion, per StreetAccountTrading Revenue: Fixed income of $3.46 billion, Equities of $2.12 billionBank of America ...