Bank of America's Q4 net income surges 112% to $6.7B - Breaking The News

Bank of America's Q4 net income surges 112% to $6.7B

16 January

1 min read

EPA-EFE/ALLISON DINNER

Bank of America Corp. announced on Thursday that its net income in the fourth quarter of its fiscal 2024 landed at $6.7 billion, skyrocketing 112% from $3.1 billion reported a year prior. Meanwhile, diluted earnings per share (EPS) soared 134% to $0.82, while revenue climbed 15% to $25.3 billion. Both figures surpassed expectations.

"We finished 2024 with a strong fourth quarter. Every source of revenue increased, and we saw better than industry growth in deposits and loans. We also ended with strong capital and liquidity, enabling us to return $21 billion of capital to shareholders in 2024. We believe this broad momentum sets up 2025 very well for Bank of America," Chair and CEO Brian Moynihan said.

The bank's stock gained 2.40% during the premarket trade following the earnings announcement to sell at $48.23 apiece.

earnings bank of america

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