Investing.com - Bank of America reported third quarter earnings that beat analyst's expectations on Monday and revenue that topped forecasts.
The firm reported earnings per share of $0.66 on revenue of $22.78B. Analysts polled by Investing.com expected EPS of $0.62 on revenue of $22.62B. That compared to EPS of $0.48 on revenue of $25.34B in the same period a year earlier The company had reported EPS of $0.63 on revenue of $22.61B in the previous quarter.
Bank of America shares lost 0.35% to trade at $28.26 in pre-market trade following the report.
For the year, Bank of America shares are down 4.34%, under-performing the S&P 500 which is up 3.11% year to date.
Bank of America follows other major Financial sector earnings this month
On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.
Wells Fargo &Co (NYSE:WFC) earnings missed analyst's expectations on Friday, with third quarter EPS of $1.13 on revenue of $21.94B. Investing.com analysts expected EPS of $1.19 on revenue of $21.84B