Bank of America Misses Q1 Earnings Estimates

Bank of America's (NYSE: BAC) earnings per share tumbled 43% in the first quarter, missing analysts' estimates. The hit is due to a larger-than-expected increase in credit losses.

Earnings per share (EPS) came in at $0.40, down from $0.70 in the first quarter of 2019. Wall Street analysts were expecting $0.42.

The bank generated $22.8 billion in revenue in the first quarter, which was basically unchanged from the year before.

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Source Fool.com