Bank Of America: Major Miss On Both Top And Bottom Line

Tyler Durden's picture

Going through Bank of America's apples to monkeys numbers, and awaiting the Q4 presentation eagerly, but for now BAC missed both the top and the bottom line by a mile: the company reported sales of  $22.67B, vs. consensus $24.87B with EPS of $0.04 on expectations of $0.21.

Some other highlights:

  • Q4 total revenue net of interest expense USD 22.1bln
  • Tier 1 capital ratio 11.24% at quarter end
  • Q4 net charge-offs USD 6.78bln
  • Q4 non-performing loans, leases and foreclosed properties USD 32.66bln
  • For this year co. had goodwill impairment charges USD 12.4bln
  • During this year, co. also recorded USD 2.6bln in litigation expenses
  • Tier 1 common equity ratio 8.60%
  • Q4 home loans, and insurance loss USD 5bln
  • Q4 provision for credit losses USD 5.13bln