Bank of America: The Winner of Third-Quarter Bank Earnings
Bank of America (NYSE: BAC) was the fourth out of the "big four" U.S. banks to report earnings, and it appears the best has been saved for last. Not only did the bank beat earnings and revenue expectations, but the numbers look pretty strong throughout the bank's business.
Here's a rundown of the important numbers that make Bank of America an early winner of the third-quarter earnings season, especially among bank stocks.
Bank of America reported results that exceeded expectations on both the top and bottom lines. Earnings of $0.56 per share beat estimates by $0.05 and would have been $0.75 without a one-time $2.1 billion charge the bank took, related to the ended partnership with First Data. This represents impressive 14% earnings growth when compared to the third quarter of 2018.
Source Fool.com
