Bank of America’s fourth-quarter results surpassed expectations, driven by a 44% surge in investment banking fees and a 15% increase in revenue. The company reported a profit of $6.67 billion, or 82 cents per share, more than doubling from the same period last year.
The firm’s net interest income rose 3%, exceeding estimates by about $170 million, with rates remaining a key factor in its performance. Investment banking fees increased by $180 million, while trading operations saw fixed income revenue rise 13% and equities revenue increase by 6%.
The company’s strong results are expected to boost investor confidence, particularly as expectations for rate cuts have been revised downward. Bank of America will likely face scrutiny over its future plans, including its target for 2025.
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Source: https://www.cnbc.com/2025/01/16/bank-of-america-bac-earnings-q4-2024.html