Before the opening bell on Thursday, Bank of America Corp (BAC ) reported its fourth quarter results, which missed analyst expectations.
BAC's Earnings in Brief
- BAC reported net income of $3.1 billion, or 25 cents per share, down from $3.4 billion, or 29 cents per share, a year ago.
- Revenue came in at $19.0 billion, compared to $21.7 billion last year.
- On average, analysts expected to see EPS of 32 cents and $20.94 billion in revenue.
BAC’s CEO Brian Moynihan commented: “In 2014, we continued to invest in our businesses while reducing expenses and resolving our most significant litigation matters.”
BofA paid its last 5 cent dividend on December 26. We expect the company to declare its next dividend in February.
Shares of BAC were down 44 cents, or 2.68%, during pre-market trading Thursday.