Bank of America's Profits Plummet, Shares Slide
TL;DR Summary
Bank of America's stock fell as the bank's earnings for the fiscal fourth quarter fell short of expectations, with a profit of $3.1 billion, down from $7.1 billion a year ago, and earnings per share dropping from 85 cents to 35 cents. Revenue of $21.96 billion also missed expectations, while net interest income was in line with predictions. CEO Brian Moynihan highlighted strong organic growth and record client activity, expressing confidence in the bank's position for responsible growth in 2024.
- Bank of America Stock Falls as Earnings Fall Short of Expectations Barron's
- BofA Profit Falls 56% as Traders Post Surprise Drop Bloomberg Television
- Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge CNBC
- Bank of America profit falls on one-off charges, shares slide Yahoo Finance
- Bank of America Profit's Fell More Than 50% on One-Time Charges The Wall Street Journal
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