From CNBC: 2024-10-15 06:15:01

Bank of America is set to announce third-quarter earnings with expectations of earning 77 cents a share and revenue of $25.3 billion. The focus will be on how the bank will benefit from falling interest rates after signaling a rebound in net interest income earlier this year. Competitors such as JPMorgan Chase and Wells Fargo have already posted strong earnings.

Analysts will be observing how Bank of America’s net interest income, a key source of revenue, will fare after the Federal Reserve’s rate cuts. The difference between what the bank earns on loans and investments versus what is paid to depositors is crucial. Other major banks like Goldman Sachs, Citigroup, and Morgan Stanley are also reporting earnings this week.

Stay tuned for updates as Bank of America and other major banks reveal their earnings results. The impact of falling interest rates on the banking sector will be closely monitored, especially as competitors have shown promising outcomes in their investment banking operations.



Read more at CNBC: Bank of America (BAC) earnings Q3 2024