‘Exceptional’ May Be Too Generous For Bank Of America Results

‘Exceptional’ May Be Too Generous For Bank Of America Results

Bank of America delivered what Brian Moynihan described as "exceptional results" on Thursday. A decrease in the the firm's credit loss provision provided a tailwind. The reserve release was $2.7 billion and came "amid an improved macroeconomic outlook and balance declines," BofA said. Net income was $8.1 billion, more than double Q1 2020. EPS was $0.86. I'll confess that a scan of the results left me a bit skeptical on Moynihan's "exceptional" characterization. Revenue was essentially flat YoY
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