Bank of America’s equities revenue up 13% in Q4

<img width="562" height="316" src="https://www.leaprate.com/wp-content/uploads/2018/02/bank-of-america.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2018/02/bank-of-america.jpg 1024w, https://www.leaprate.com/wp-content/uploads/2018/02/bank-of-america-768×432.jpg 768w, https://www.leaprate.com/wp-content/uploads/2018/02/bank-of-america-245×138.jpg 245w, https://www.leaprate.com/wp-content/uploads/2018/02/bank-of-america-500×281.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>BAC’s Global Markets segment, which provides a range of equity and debt-related services, performed well. Sales and Trading revenue rose 3% to $3.6bn while Equities revenue spiked 13% to $1.5bn. However, Fixed, Income, Currencies and Commodities revenue dropped 4% to $2.1bn.</p>
<p>The overall report was mixed as BAC’s earnings per share of 70 cents beat pre-report expectations (68 cents) but revenue of $22.1bn fell short of the $23.74bn estimates. Net income of $3.1bn was also 50% lower than the $7.1bn figure for the same period last year, which wasn’t helped by a 4% dip for the consumer banking segment.</p>
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<p>Chairman and CEO Brian Moynihan preferred to highlight the “solid” full-year results for the company. BAC’s Global Markets segment had a banner year with a record $17.4bn in full-year sales and trading revenue. He also noted that strong client activity and digital engagement bodes well moving forward.</p>
<p>He concluded:</p>
<blockquote><p>This activity led to good loan demand and growth in deposits in the quarter and full-year net income of $26.5 billion. Our expense discipline allowed us to continue investing in growth initiatives. Strong capital and liquidity levels position us well to continue to deliver responsible growth in 2024.</p></blockquote>
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