Bank Of America’s Q4 Results Beat Consensus Estimates

Bank of America Corporation reported for the 4th quarter and 2021 fiscal year, as planned. It announced this today before the opening of official trading. As the results beat forecasts, the stock is rising in premarket trading, up 4% at the time of writing. According to the five-day price chart, after 3-day stability, the worth dropped 5% to $46.36. Bank of America Corporation is a major provider of banking and financial services and products, serving both individual consumers and businesses from the smallest to the largest.

Bank Of America

Bank of America reported Q4 earnings growth of nearly 29%, equaling $0.82 per share, 6 cents more than Street’s forecast. In general, profit popped to $6.77B. The growth of loans and deposits caused an increase in net interest income by 11% to $11.41B. In 3 months, the company surged loans of $51 billion while deposits soared $100 billion. To cover the losses, it offloaded over $850 million from reserves. Bank of America says expenses will not rise this year.