Here comes Bank of America ...
REUTERS/Shannon Stapleton
Wall Street analysts are expecting the bank to report earnings of $0.46 per share, down from $0.48 in the second quarter.
Here are the other key figures and estimates analysts will be looking for:
- Revenues of $21.95 billion, down from $23.2 in the second quarter.
- Net income of $4.9 billion, down from $5.2 billion in the second quarter.
- Trading revenues expected to suffer a double-digit decline.
Net interest income will also command attention, as the bank failed to meet expectations on this figure last quarter despite posting record numbers in global banking and wealth management. The consensus estimate for third-quarter NII is $11.3 billion, up from $11.2 billion last quarter.
Wall Street's trading decline - especially in bond trading - will be another point of focus. Citi and JPMorgan, each of which kicked off the earnings cycle for US banks yesterday, reported fixed-income trading drop-offs of 16% and 27%, respectively.
Nonetheless, the two banks each beat earnings estimates handily.
Get the latest Bank of America stock price here.
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