Bank of America reported third-quarter results on Friday that beat Wall Street expectations despite a slowdown in its fixed-income trading business.
Here’s how the company’s results fared against Wall Street expectations:
- EPS: 48 cents vs 45 cents forecast by Thomson Reuters
- Revenue: $22.079 billion vs $21.976 billion
The company’s stock rose 0.8 percent in the premarket following the release of the results.
“I think this was a fairly strong quarter for Bank of America here,” said Stephen Biggar, director of financial institutions research at Argus Research, on CNBC’s “Squawk Box.” “Loans were up 6 percent, not quite as high as [JPMorgan] reported yesterday, but margins did improve year over year, which is a very good sign.”
