Bank Of America Q1 Net Profit Rises

Bank of America reported first-quarter net income applicable to common shareholders of $8.16 billion, up from $6.96 billion a year earlier. Earnings per share rose to $1.11 from $0.89, indicating year-over-year improvement in profitability. The update is positive for bank fundamentals but contains no additional guidance or drivers.

Analysis

Bank of America reported first-quarter net income applicable to common shareholders of $8.16 billion, up from $6.96 billion a year earlier. Earnings per share rose to $1.11 from $0.89, indicating year-over-year improvement in profitability. The update is positive for bank fundamentals but contains no additional guidance or drivers.