Bank of America trades at multi-year highs ahead of Q1 earnings
Fiona Cincotta April 14, 2021 3:44 PM
BAC is due to release earnings 15th April. Expectations are for EPS $0.66 on revenue $22.13 billion. Revenue will be in focus after a miss in Q4.
Bank Of America is due to report Q1 earnings on 15th April before the market open.
The earnings come after upbeat numbers from JP Morgan, Goldman Sachs & Wells Fargo today.
Revenue will be particularly in focus after Bank of America missed revenue forecasts in Q4 results.
Whilst earnings in Q1 are expected to beat estimates, revenue could still struggle owing to continued weakness in its core business.
Strength in the global markets business failed to offset weaker consumer spending & interest rate headwinds in 2020 and that trend is expected to continue in Q1 2021. However, the outlook is expected to improve.
EPS of $0.66 is expected on revenue of $22.13 billion.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.