Bank of America reports revenue at $23.1B in Q1

Business 4/16/2018, 12:51 PM
Bank of America reports revenue at $23.1B in Q1

American financial services giant Bank of America reported its revenue in the first quarter of 2018 increased 4% to $23.1 billion, just above expectations.

In the update released on Monday, the North Carolina-based company announced diluted earnings per share came in at $0.62 in the three months ending March 31, a rise of 38% compared to the previous quarter, while net income was reported at $6.9 billion.

"Our responsible growth model continues to deliver consistent results. Strong client activity, coupled with a growing global economy and solid US consumer activity, led to record quarterly earnings," chief executive officer Brian Moynihan commented on the results. Upon the release of its quarterly report, shares of Bank of America advanced 0.84% to $30.5 per share in pre-market trading.

Breaking the News / JC

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Chart for: Bank of America Corporation