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HomeMarketBAC Earnings: Key quarterly highlights from Financial institution of America’s Q2 2024...

BAC Earnings: Key quarterly highlights from Financial institution of America’s Q2 2024 monetary outcomes | AlphaStreet

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Financial institution of America (NYSE: BAC) reported its second quarter 2024 earnings outcomes at the moment.

Income, web of curiosity expense, of $25.4 billion elevated 1% from the prior-year interval, reflecting larger asset administration and funding banking charges, in addition to gross sales and buying and selling income, and decrease web curiosity revenue (NII).

Web revenue was $6.9 billion, or $0.83 per share, in comparison with $7.4 billion, or $0.88 per share final 12 months.

Income and earnings beat expectations.

Throughout the quarter, the corporate returned $5.4 billion to shareholders by means of $1.9 billion in dividends and $3.5 billion in share repurchases.

The inventory rose over 1% in premarket hours on Tuesday.

Prior efficiency

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