Bank of America’s 3Q Earnings: The Most Important Number

When Bank of America (NYSE: BAC) reported third-quarter earnings on Friday, it was easy to get caught up in a recitation of the typical earnings-related metrics -- things like revenue and earnings per share. But I would argue that neither of these is the most important number to focus on when analyzing the latest quarterly performance of the nation's second-biggest bank by assets.

"Our focus on responsible growth and improving the way we serve customers and clients produced another quarter of strong results," said chairman and CEO Brian Moynihan. "Revenue across our four lines of business grew 4 percent, even with a challenging comparable quarter for trading. We delivered positive operating leverage year over year for the 11th consecutive quarter while continuing to invest in improved capabilities."

Brian Moynihan, chairman and CEO of Bank of America. Image source: Bank of America.

Source: Fool.com