Investing.com - Bank of America, the second largest U.S. bank,
reported better-than-expected fourth quarter earnings and revenue
figures ahead of Wednesday's opening bell, sending its shares
higher in pre-market trade.
Earlier in the day, in its fourth quarter earnings report, Bank
of America said earnings per share came in at USD0.29, above
expectations for USD0.27 and compared to earnings per share of
USD0.03 in the same period a year earlier.
The bank's fourth quarter revenue totaled USD21.7 billion,
beating estimates for revenue of USD21.14 billion and up from
USD18.66 billion from a year ago.
Fourth quarter net income was USD3.4 billion, compared to USD732
million in the year-ago period.
"We are pleased to see the core businesses continue to perform
well, serving our customers and clients," said Chief Executive
Officer Brian Moynihan.
Immediately after the earnings announcement,
Bank of America
shares rose 2% in trading prior to the opening bell.
Meanwhile, U.S. stock futures pointed to a modestly higher open.
The Dow Jones Industrial Average futures pointed to a gain of 0.15%
at the open, S&P 500 futures added 0.2%, while the Nasdaq 100
futures indicated a rise of 0.3% at the open.
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