Market Intelligence

Bank of America profit rises 6 pct on growing loan book


April 16 () - Bank of America Corp reported a 6 percent rise in quarterly profit on Tuesday, as a growing loan book and cost cuts made up for a drop in revenue in investment banking.

Net income applicable to common shareholders rose to $6.87 billion, or 70 cents per share, in the first quarter ended March 31 from $6.49 billion, or 62 cents per share, a year earlier.

Analysts on average were expecting the bank to earn 66 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at and via Reuters TV.

Learn More