Bank of America (NYSE: BAC) reported its second quarter 2024 earnings results today.
Revenue, net of interest expense, of $25.4 billion increased 1% from the prior-year period, reflecting higher asset management and investment banking fees, as well as sales and trading revenue, and lower net interest income (NII).
Net income was $6.9 billion, or $0.83 per share, compared to $7.4 billion, or $0.88 per share last year.
Revenue and earnings beat expectations.
During the quarter, the company returned $5.4 billion to shareholders through $1.9 billion in dividends and $3.5 billion in share repurchases.
The stock rose over 1% in premarket hours on Tuesday.
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