Article Hero

Mixed Q3 figures from America’s largest banks

1602684211.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 April 2021
Bank of America, Goldman Sachs, and Wells Fargo had the earnings reports

The earnings season has started with some of the largest American banks. The figures came in mixedly and surprised the markets.

Bank of America reported Q3 figures that topped the expectation, but at the same time fell short of the mark. Its net income came in at $4.9 billion, or 51 cents per share, topping the 49 cents/share consensus.

As mentioned before, some figures missed the target. Bank of America’s revenue declined 10.8% coming in at $20.34 billion. The market was looking for $20.8 billion.

After the report, Bank of America's stock price fell 2%. Since the beginning of the year, it lost 29.2%, while USA500 added 8.7%.

Goldman Sachs stock price went up 3% after the bank reported #Q3 figures above the expectations. Compared to last year's figures, the net income doubled to $3.48 billion, or $9.68 a share. The revenue increased 29.5% from last year's numbers to $10.78 billion.

Year-to-date, Goldman Sachs stock price lost 8.3%, while USA30 edged up 0.5%.

From the three banks that released their financial reports, Wells Fargo had the weakest numbers. Its net income fell to $1.72 billion, or 42 cents/share, from a previous of $4.04 billion. The #revenue had a 14% decrease from last year’s figures to $18.86 billion.

So far, Wells stock price fell 54.01%.

Sources: marketwatch.com, finance.yahoo.com

disclaimers_articles

article_share_title

article_rating_title

awful
ok
great
awesome

read_more

Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.