Investing.com – Bank of America (NYSE:) reported fourth-quarter some 7% ahead of analysts’ expectations on Wednesday, although revenue and income from its core lending business fell slightly as a consequence of the Federal Reserve’s interest rate cuts in late 2019.
The firm reported earnings per share of $0.74 on revenue of $22.35B. Analysts polled by Investing.com anticipated EPS of $0.69 on revenue of $22.22B. That compared to EPS of $0.7 on revenue of $22.74B in the same period a year earlier. The company had reported EPS of $0.56 on revenue of $22.81B in the previous quarter.
Bank of America follows other major Financial sector earnings this month
On Tuesday, JPMorgan reported fourth quarter EPS of $2.57 on revenue of $29.21B, compared to forecasts of EPS of $2.35 on revenue of $27.87B.
UnitedHealth earnings beat analysts’ expectations on Wednesday, with fourth quarter EPS of $3.9 on revenue of $60.90B. Investing.com analysts expected EPS of $3.77 on revenue of $60.93B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
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