Wall Street anticipates Bank of America's earnings report.
- In the second quarter, net interest income would reach its lowest point, as stated by CEO Brian Moynihan to investors in April.
- One of the primary ways banks generate income is through the measure known as NII, which represents the difference between the interest earned on loans and the interest paid to depositors for their savings.
is scheduled to report second-quarter earnings before the opening bell Tuesday.
Here's what Wall Street expects:
- Earnings: 80 cents a share, according to LSEG
- Revenue: $25.22 billion, according to LSEG
- Net Interest Income: $13.88 billion, FTE basis, according to StreetAccount
- Provision for credit losses: $1.49 billion, according to StreetAccount
How is Bank of America navigating the interest rate environment?
In April, CEO Brian Moynihan informed investors that net interest income would reach its lowest point in the second quarter.
One of the primary ways banks generate income is through the measure known as NII, which represents the difference between the interest earned on loans and the interest paid to depositors for their savings.
On Friday, Wells Fargo's shares dropped due to its release of disappointing NII figures, indicating the importance of this metric to investors.
Last week, both Wells Fargo and JPMorgan Chase exceeded revenue and profit expectations, continuing a streak that was aided by a rebound in Wall Street activity on Monday.
This story is developing. Please check back for updates.
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