Bank Earnings Continue To Outperform With Citi And Bank Of America Topping Estimates

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The trends have continued over the past few days for US mega cap banks as results continue to outperform the street’s estimates. While each bank is reporting strengths and weaknesses, a common theme of outliar profits have come from better than expected trading revenues from heightened volatility in markets as a result of the Ukraine conflict. Q1 2022 hedge fund letters, conferences and more Bank of America on the other hand reported EPS of $0.80 vs the markets forecast of $0.75. Group sales came in at $23.3 billion, pretty much in-line with the $23.2 billion estimate. The BAC result topped es…

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