Shares of Bank of America (BAC) rose in premarket trading Tuesday after the financial giant’s first-quarter results came in better than expected.
The firm recorded earnings per share (EPS) of $0.90 on revenue of $27.37 billion. Analysts were projecting $0.82 and $26.80 billion, respectively, per Visible Alpha.
Bank of America reported net interest income (NII) of $14.44 billion, in line with the analyst consensus.
Despite largely stronger-than-expected Q1 results thus far, a number of executives at big banks have been less bullish on the macroeconomic outlook for 2025 amid uncertainty about how the Trump administration’s tariffs will impact the economy.
“Our business clients have been performing well; and consumers have shown resilience, continuing to spend and maintaining healthy credit quality,” Bank of America CEO Brian Moynihan said. He added that Bank of America is well-positioned to continue growing even “though we potentially face a changing economy in the future.”
Shares of Bank of America, which topped estimates in each quarter of 2024, were up about 2% immediately following the report. They entered the day down roughly 17% since the start of the year.
Leave a Reply