Bank of America Joins Rivals in Topping Q4 Estimates | Global News Avenue

Bank of America (buckShares of the bank rose in premarket trading Thursday as the bank’s fourth-quarter results beat analysts’ expectations.

The company quoted $6.67 billion net income $25.35 billion income. Analysts surveyed by Visible Alpha expected They were US$6.32 billion and US$25.02 billion respectively. Bank of America’s net interest income Actual revenue was $14.36 billion, slightly above the consensus of $14.18 billion.

The company beat expectations on every metric first three dormitory this year.

Bank of America shares rose 1.5% after the report was released. As of Wednesday’s close, the stock had gained more than 45% in the past 12 months.

Bank of America says: ‘We end 2024 with a strong fourth quarter’ CEO Brian Moynihan said. “Every revenue stream increased and we saw deposits and loans growing better than the industry.”

“We believe this broad-based momentum positions Bank of America well into 2025,” Moynihan added.

Banking rivals beat fourth-quarter results Wednesday

The report comes a day after rival JPMorgan Chase (JPMorgan Chase), Wells Fargo (world financial center), Citigroup (C), and Goldman Sachs (GS) beat expectations by a wide margin in its fourth-quarter report on Wednesday.