- Excluding market-related adjustments, net interest income of $10.3B slipped from $10B in Q2 and $10.54B a year ago. Noninterest income of $11.171B fell from $11.629B in Q2, and rose from $10.99B a year ago.
- Excluding litigation, noninterest expense of $13.6B fell 4%. LAS noninterest expense excluding litigation of $900M fell 32%.
- Tangible book value per share of $15.50 up 10%. ROA of 0.82%, ROTCE of 10%. Fully phased-in CET 1 ratio of 11% up 60 basis points.
- Consumer Banking net income of $1.759B vs. $1.669B a year ago, on revenue of $7.832B vs. $7.749B. $13.7B of mortgages originated vs. $11.7B. Client brokerage assets of $117.2B up 8%.
- Global Wealth and Investment Management net income of $656M vs. $812M a year ago, on revenue of $4.468B vs. $4.666B.
- Global Banking net income of $1.277B vs. $1.521B a year ago, on revenue of $4.191B vs. $4.345B.
- Global Markets net income of $1.008B vs. $371M a year ago, on revenue of $4.071B vs. $4.161B. The boost is income is thanks to lower noninterest expense thanks to lower litigation cost. FICC revenue excluding net DCA fell 11% from one year ago. Equities excluding net DVA increased 12%.
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Conference call at 8:30 ET
- Previously: Bank of America beats by $0.04, beats on revenue (Oct. 14)
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BAC +1.4% premarket