Bank of America reports Q1 EPS 90c, consensus 82c

Reports Q1 revenue $27.37B, consensus $26.91B. Reports Q1 CET1 capital ratio 11.8%. Reports Q1 tangible book value per share $27.12. Reports Q1 net charge-offs 0.54%. The company said, “We had a good first quarter, with earnings per share of $0.90 up from $0.76 last year. This reflected growth in net interest income and fee income, while sales and trading delivered its 12th consecutive quarter of year-over-year revenue growth. Our business clients have been performing well; and consumers have shown resilience, continuing to spend and maintaining healthy credit quality. Though we potentially face a changing economy in the future, we believe the disciplined investments we have made for high-quality growth, our diverse set of businesses, and the team’s relentless focus on Responsible Growth will remain a source of strength.”