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Bank of America said second quarter earnings jumped 33 percent to $ 6.8 billion, exceeding the $ 5.92 billion estimate of analysts polled by FactSet.
Revenues also exceeded expectations: The company posted revenue of $ 22.6 billion at the corporate level, compared with the $ 22.3 billion forecast of $ 22.6 billion. 39 analysts surveyed by Thomson Reuters. The figure decreased 1% from the previous year, when the bank sold a US-based credit card business. Excluding the gain of the previous year, revenues increased by 3%. The company's earnings per share jumped 43 percent to 63 cents a share, surpassing the estimate of 57 cents a share.
"Responsible growth has continued to be a driver in all areas of business," said Executive Director Brian Moynihan in a statement. "We have increased personal and business lending, increased deposits, increased Merrill Edge assets, generated more net new households in Merrill Lynch, and further supported institutional client activity, while continuing to grow the business." invest in our activities. and has launched an additional $ 500 million technology investment, which we intend to spend in the coming quarters, because of the benefits we have gained from tax reform. "
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