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

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ValueWalk

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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