Bank of America (BofA) reported net income of $7.082 billion for the third quarter of 2022, equivalent to $0.81 per share.
The result beat FactSet analysts, who had forecast earnings per share of $0.78.
In addition, the numbers were above those recorded by the American bank in the same period in 2021, when it had net income of US$ 6.247 billion, or US$ 0.73 per share.
BofA’s third-quarter revenue of $24.502 billion also surpassed FactSet’s consensus of $23.54 billion, still marking 8% growth from last year.
Among other highlights, BofA’s net income with interest rose to US$13.77 billion, from US$11.09 billion a year ago.
The bank’s positive results supported a rise of 3.12% in the pre-market of the New York stock exchanges, at 8:25 am (GMT).
The bank’s chairman and CEO, Brian Moynihan, highlighted increased customer activity as the driver for the 8% growth in revenue.
“Our US consumer customers have remained resilient with strong, albeit slower growth, spending levels and still high deposit amounts,” Moynihan said in the statement.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
