Bank of America, with 69 million household and small business customers, reports a net interest income of 14.4 billion dollars (equivalent to approximately 160 billion kronor). This can be compared to an average forecast of 14.1 billion, according to Bloomberg.
The earnings per share increased by 47 percent to 82 cents per share, compared to expected 77 cents per share.
Total revenue was 25.5 billion dollars, compared to expected 25.2 billion. And provisions for credit losses remained at 1.4 billion dollars, compared to expected 1.6 billion dollars.
The share price rose by over 2 percent in futures trading on Wall Street after the report.
Investment bank Morgan Stanley – which is competing for advisory mandates with giants like Goldman Sachs and JP Morgan Chase & Co – is trending upwards after a report where the bank reports revenue of 16.2 billion dollars. This can be compared to the average forecast of 15.1 billion.
Morgan Stanley's earnings per share were 2.22 dollars per share, compared to expected 1.70 dollars.
Thursday's American bank reports come after major competitors like JP Morgan Chase & Co, Citigroup, and Goldman Sachs kicked off the reporting season on Wall Street on Wednesday with unexpectedly strong quarterly figures.
