Finance
Bank of America Merrill Lynch reports Q3 earnings
Brian Moynihan, CEO of Bank of America Merrill Lynch.REUTERS / Bobby Yip
Bank of America Merrill Lynch is set to report third-quarter earnings at about 6:45 a.m. Monday.
Analysts expect the bank to report adjusted earnings per share of $0.62, a 29.5% increase from last year.
Here’s what else analysts will be expecting and watching for:
- Revenue: $22.6 billion, up 2.4% from 2017.
- Net income: $6.3 billion, up 22.2% from 2017.
- Trading: Revenues expected to dip compared with last year.
- Investment banking: Expected to be down compared with last year, continuing a woeful year for the division. Group head Christian Meissner announced his departure last month and will be succeeded by Matthew Koder, the bank’s president of Asia Pacific.
JPMorgan Chase and Citigroup reported earnings last Friday, and both beat analysts’ expectations, reporting strong profit growth.
Read more of our Bank of America coverage:
Get the latest Bank of America stock price here.
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