Bank of America trades at multi-year highs ahead of Q1 earnings

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.

New Highs 1

 

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.  

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