Wednesday, October 20, 2010

What Drives A Bank of America Recovery?

Like most other major U.S. banks, Bank of America (NYSE:BAC) is managing to deliver successively less-worse quarterly reports. Credit is getting better and the securities markets are closer to back-to-normal. What is not so clear, though, is what horse Bank of America is going to ride back to prosperity. After all, less-bad can only power a turnaround story for so long.   

The Quarter That Was
Due in part to better credit conditions and sizable loan loss reserve releases, Bank of America beat on the bottom line while missing slightly on the top line. Revenue rose 2% from last year, but fell more than 8% on a sequential basis, led in part by a 4% sequential decline in net interest income. Although revenue from card services did drop sequentially, investment banking did a little better.


Please click the link below for the full article:
http://stocks.investopedia.com/stock-analysis/2010/What-Drives-A-Bank-of-America-Recovery-BAC-C-WFC-MS-GS1020.aspx

No comments: