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Financial institution of America Chairman and CEO Brian Thomas Moynihan testifies throughout a Wall Avenue oversight listening to by the Senate Banking, Housing, and City Affairs committee on Capitol Hill in Washington, DC, December 6, 2023.
Saul Loeb | AFP | Getty Photographs
Financial institution of America is scheduled to report first-quarter earnings earlier than the opening bell Tuesday.
Here is what Wall Avenue expects:
- Earnings: 76 cents a share, in keeping with LSEG
- Income: $25.46 billion
- Provision for credit score losses: $1.4 billion, in keeping with StreetAccount
- Buying and selling: Fastened earnings of $3.24 billion and equities of $1.84 billion
Will Financial institution of America comply with rivals in posting better-than-expected Wall Avenue income?
That is one of many key questions after JPMorgan Chase, Citigroup and Goldman Sachs all topped estimates with assist from buying and selling and funding banking.
Financial institution of America’s Chief Monetary Officer, Alastair Borthwick, instructed analysts final month to count on funding banking income to rise by 10% to fifteen% from a 12 months earlier, and for buying and selling outcomes to be roughly flat.
Analysts may even be targeted on the financial institution’s web curiosity earnings, which has been declining in latest quarters as funding prices have climbed together with the rise in rates of interest.
This story is growing. Please examine again for updates.
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