This earnings release follows the earnings announcements from the following peers of Bank of America Corporation - Citigroup (C), Wells Fargo & Company(WFC), JPMorgan Chase & Co. (JPM) and BB&T Corporation (BBT).
Summary numbers: Revenues of $21.2 billion, Net Earnings of $168 million and EPS of -1 cent. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of 5.79% vs. change in earnings of -93.27%.
Net Interest Income Margins now 48.20% from 51.23% compared to the same period last year, Net Interest Income After Provisions Margins now 45.20% from 49.75%
Net loan assets changed -4.24% compared to same period last year and -2.22% from previous period, total deposits changed 0.17% compared to same period last year and -1.97% from previous period.
Earnings decline from operating margin decreases as well as from unusual items
Lower EPS growth than earnings growth suggests a likely larger dilution in the company's shares this period.