Bank of America shares fell 1.1% Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges.
Here’s what the company reported compared to Wall Street expectations, according to LSEG, formerly known as Refinitiv:
- Earnings per share: 70 cents, adjusted vs. 68 cents expected.
- Revenue: $22.1 billion vs. $23.74 billion expected.
Bank of America said its net income fell to $3.1 billion, or 35 cents per share, in the fourth quarter, down more than 50% from $7.1 billion, or 85 cents per share, a year ago.
