Bank of America revenue tops expectations as lender benefits from higher interest rates

Bank of America revenue tops expectations as lender benefits from higher interest rates

  • Bank of America earnings dropped 32% to $6.25 billion, or 73 cents a share, from a year earlier as the firm took a $523 million provision for credit losses.
  • Revenue climbed 5.6% to $22.79 billion, edging out analysts’ expectations, as net interest income surged 22% to $12.4 billion on rising interest rates and loan growth.
  • Shares of the lender fell more than 1% in premarket trading.

https://www.cnbc.com/2022/07/18/bank-of-america-bac-2q-2022-earnings-.html


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