Bank of America’s third quarter earnings beat expectations on revenue and on EPS. Read why I sold 33% of my shares shortly after BAC’s release came out.

Bank of America Corp (NYSE: BAC) reported $6.9 billion in net income and EPS of $0.81 for Q3 fiscal 2024, beating analyst estimates. Revenue was $25.49 billion, with gains in trading revenue and investment banking fees offsetting declines in net interest income.

Bank of America, Goldman Sachs and Citigroup will be the next big banks to report results on Tuesday. They follow JPMorgan and Wells Fargo, whose earnings last week were well received by Wall Street.

Bank of America's stock was up 1.4% after third-quarter earnings showed a profit beat that offset a decline in net interest income, and buyers were snapping up its outstanding bonds as spreads narrowed to their tightest levels of the year.

The estimate 1.2 for Lisa when asked you see net interest expenses, non-interest expenses came in just a little bit light. Again, you see FICC trading revenue coming in at 2.94 billion. That exceeds expectations of $2.

Bank of America delivered an upswing in a key revenue measure, net interest income. The bank’s total net interest income rose to $13.97 billion in the third quarter, from $13.7 billion in the second quarter.