Home Industries Business Services Bank of America reports $7.12B profit in Q2, surpasses earnings expectations

Bank of America reports $7.12B profit in Q2, surpasses earnings expectations

By

Matthew McNulty

-

07/16/2025

Earns Bank of America — BANK OF AMERICA Corp. on Wednesday reported a second-quarter profit of $7.1 billion, a 3% increase from $6.9 billion posted a year ago. / ASSOCIATED PRESS FILE PHOTO / MICHAEL DWYER

CHARLOTTE, N.C. – Bank of America Corp. reported a $7.12 billion second-quarter profit Wednesday, a 3% increase from $6.9 billion the nation’s second-largest bank reported a year ago. Earnings for the quarter were 89 cents per diluted share compared with 83 cents per diluted share the year prior, surpassing Wall Street expectations. The average estimate

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CHARLOTTE, N.C. – Bank of America Corp. reported a $7.12 billion second-quarter profit Wednesday, a 3% increase from $6.9 billion the nation's second-largest bank reported a year ago. Earnings for the quarter were 89 cents per diluted share compared with 83 cents per diluted share the year prior, surpassing Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share. Bank of America's second-quarter revenue grew 4% year-over-year to $26.46 billion, narrowly missing Wall Street forecasts. Six analysts surveyed by Zacks expected $26.59 billion. The bank was weighed down by a 9% decline in investment banking fees to approximately $1.4 billion, and a rise in credit loss provisions to $1.6 billion amid economic caution. Net interest income – a key metric for banks to measure how much money they have made from lending – rose 7% from the second quarter of 2024 to $14.7 billion. For the quarter, Bank of America's total deposits climbed to $2 trillion, up 5% from $1.9 trillion a year earlier, reflecting continued growth in customer balances. Total assets rose to $3.35 trillion in the quarter as well, up from $3.27 trillion a year earlier. Shares have also increased 5% since the beginning of the year, while the S&P 500 index has climbed 6%. The stock has climbed 10% in the last 12 months. Meanwhile, the bank's digital engagement grew strongly year-over-year, with 20 million active "Erica" users and 79% of consumer households using digital channels, the bank reported. Erica is the bank's advanced AI-powered virtual financial assistant built into its mobile banking app. Bank of America Chairman and CEO Brian Moynihan said on Wednesday that the company delivered "another solid quarter." "Consumers remained resilient, with healthy spending and asset quality, and commercial borrower utilization rates rose," Moynihan said. "In addition, we saw good momentum in our market's businesses. So far this year, we have supplied more capital to our businesses and returned 40 percent more capital to shareholders in the first half of this year than last year." (Material from The Associated Press was used in this report.) Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.