Bank of America Spikes On Blowout Q3 Report: Record Advisory Fees, NIM Beats, Solid Loan Growth


By Tyler Durden,

When JPMorgan kicked off Q3 earnings yesterday, investor ignored the solid top-line results driven by a surge in advisory and ibanking revenue, and instead were more concerned by the latest decline in consumer and commercial loans and the drop in FICC trading. Would Bank of America follow the same fate when it reported results today?

Moments ago BofA reported Q3 earnings which like JPM beat on the top and bottom line, to wit:

  • Revenue net of interest expense $22.77 billion, up 12% Y/Y, and beating the $21.78 billion expected
  • EPS 85c, up 67% Y/Y and beating estimates of 71c
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