Earnings Report: July 18, 2023
Earnings Report: July 18, 2023 Bank of America Corporation (BAC)- Bank of America reported earnings before the market opened this morning. The results were above expectations and led to a nice boost in the stock price in the days trading. Net Income rose 19% in the period. The CEO gave some good commentary talking about the company having one of the strongest quarters in the company's history. Growth seems to be a common trend for the company as the economy is slowing down a little bit, but the job market is staying resilient. The balance sheet remains strong as the company positions itself for long-term shareholder value. The CFO also came out with some commentary and commended on the companies eight straight quarter of operating leverage. Bank of America is doing a wonderful job at executing its responsible growth strategy. One thing that needs to be observed in all financial institutions right now, is the exposure to commercial real estate. With that sector really suffering and