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Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge

January 12, 2024


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.

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