BAC Q4 net income $7.1B ($0.85 EPS), revenue +11% to $24.5B, NII +29%

BANK OF AMERICA CORP /DE/

2022-FY EPS reported $3.19 revenue$94,950,000,000

Q4 net income $7.1B vs $7.0B YoY; diluted EPS $0.85 vs $0.82; full-year net income $27.5B ($3.19 EPS).
Revenue $24.5B +11%; NII $14.7B +29% on higher rates and loan growth; noninterest income $9.9B -8%.
Provision for credit losses $1.1B (reserve build $403M) vs net release $851M in Q4-21; net charge-offs $689M.
Average loans +10% to $1.0T (commercial + credit card); deposits -5% to $1.9T; CET1 ratio 11.2% (+25bps QoQ).
Record Q4 sales & trading revenue $3.5B; Consumer Banking net income $3.6B +15%; GWIM net income $1.2B -2%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANK OF AMERICA CORP /DE/ reported Q4 2022 results: revenue 24.5, net income 7.1, EPS 0.85.

Period: Q4 2022
Revenue: 24.5
Net income: 7.1
EPS: 0.85
Result: reported results

Exact text from the filing

2022 Net Income of $27.5 Billion; EPS of $3.19 2 Bank of America Financial Highlights ($ in billions, except per share data) Q4-22 Q4-21 Total revenue, net of interest expense $24.5 $22.1 Provision for credit losses 1.1 (0.5) Noninterest expense 15.5 14.7 Pretax income 7.9 7.8 Pretax, pre-provision income1(D) 9.0 7.3 Income tax expense 0.8 0.8 Net Income 7.1

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANK OF AMERICA CORP /DE/ reported FY 2022 results: revenue 95.0, net income 27.5, EPS 3.19.

Period: FY 2022
Revenue: 95.0
Net income: 27.5
EPS: 3.19
Result: reported results

Exact text from the filing

tax expense 0.8 0.8 Net Income 7.1 7.0 Diluted earnings per share $0.85 $0.82 ($ in billions, except per share data) FY 2022 FY 2021 Total revenue, net of interest expense $95.0 $89.1 Provision for credit losses 2.5 (4.6) Noninterest expense 61.4 59.7 Pretax income 31.0 34.0 Pretax, pre-provision income1(D) 33.5 29.4 Income tax expense 3.4 2

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

BANK OF AMERICA CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000070858-23-000005

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