Bank of America Fourth Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Bank of America (NYSE:BAC) will unveil its latest earnings tomorrow, Thursday, January 17, 2013. Bank of America is a bank holding and a financial holding company which, through its subsidiaries, provides banking and other financial services and products to customers in the United States and abroad.
Bank of America Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of 2 cents per share, a decline of 86.7% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 19 cents. Between one and three months ago, the average estimate moved up. It has dropped from 20 cents during the last month. Analysts are projecting profit of 24 cents per share versus a loss of 29 cents last year.
Past Earnings Performance: Last quarter, the company reported 0 cents per share versus a mean estimate of net loss of. The company has beaten estimates for the past three quarters.
A Look Back: In the third quarter, profit fell 94.5% to $340 million (0 cents a share) from $6.23 billion (56 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 27.8% to $24.47 billion from $33.9 billion.
Here’s how Bank of America traded over the past 5 days ahead of its big earnings release tomorrow: