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Bank of America reduces revenue, but improves third-quarter profit

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Bank of America reduced its third-quarter revenue by 10.8%, to reach a turnover of 20,340 million of dollars, when the market consensus expected that they would stand at 20.8 billion. The US bank blames this drop on global markets, global banking, and the global investment and wealth management segments falling short of expectations.

Despite the decline in sales, it achieved increase your earnings per share (EPS) to $ 0.51 versus $ 0.49 expected by the experts. Even so, the entity's shares have suffered on the London floor and have been left more than 5%.

The bank has confirmed that it has provisioned 1,400 million to face the credit losses that may occur in the quarter due to the Covid crisis. It is a figure much less than the 5.1 billion that was saved in the previous quarter.

. (tagsToTranslate) Bank (t) America (t) reduces (t) revenues (t) but (t) improves (t) profit (t) third (t) quarter (t) Category: All (t) Category: Company News (t) Category: Europe Report (t) Category: International News (t) Category: Pulses (t) Category: Pulses Europe



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