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Bank of America: Q4 earnings

Summary of Bank of America's earnings for its fourth quarter, following which shares were down 2.12% immediately after results in the pre-market (12.24pm London time).

 

Revenue

Earnings per share

Expected

$21.06 billion $0.31

Actual

$18.73 billion $0.32

 

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Bank of America’s figures were a mixed bag, missing revenue but squeaking in with a slightly higher EPS figure than forecast. At least it was an improvement from the previous quarter’s 4 cents loss per share, while the cost-cutting programme is really beginning to kick into high gear. JPMorgan and Wells Fargo both stressed their preparedness for a downturn in credit and the economy generally, but Bank of America skirted these awkward questions, a worrying sign that risk management is perhaps not what it should be. 

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