Q1 25 EPS
$0.90
BEAT +10.28%
Est. $0.82
Q1 25 Revenue
$27.37B
BEAT +1.71%
Est. $26.91B
vs S&P Since Q1 25
+8.8%
BEATING MARKET
BAC +42.9% vs S&P +34.0%
Market Reaction
Did BAC Beat Earnings? Q1 2025 Results
Bank of America kicked off 2025 on a strong note, posting first-quarter earnings per share of $0.90, clearing the $0.82 consensus estimate by 10.28%, while revenue climbed 6.0% year-over-year to $27.37 billion, edging past expectations by 1.71%. The … Read more Bank of America kicked off 2025 on a strong note, posting first-quarter earnings per share of $0.90, clearing the $0.82 consensus estimate by 10.28%, while revenue climbed 6.0% year-over-year to $27.37 billion, edging past expectations by 1.71%. The headline beat was anchored by broad momentum across all four business segments, with Global Markets delivering its highest sales and trading revenue in over a decade at $5.66 billion, up 11% year-over-year, as equities set a fresh quarterly record of $2.19 billion. Net interest income of $14.44 billion and a 10% rise in noninterest income to $12.92 billion both contributed to the lift, while net income rose 11% to $7.40 billion. BAC shares moved higher on the news amid an otherwise cautious market. Looking ahead, management guided fourth-quarter 2025 NII to approximately $15.50 to $15.70 billion, supported by fixed-rate asset repricing, though CEO Brian Moynihan acknowledged the company potentially faces a changing economic environment in the periods ahead.
Key Takeaways
- • Net interest income growth driven by lower deposit costs, Global Markets NII, and fixed-rate asset repricing
- • Noninterest income growth across all business segments
- • Sales and trading revenue up 11%, 12th consecutive quarter of YoY growth
- • Record equities sales and trading revenue
- • 15% increase in asset management fees from strong AUM flows and higher market levels
- • Combined credit/debit card spend up 4%
- • Average deposits increased 3% to nearly $2 trillion — seven consecutive quarters of growth
- • Average loans and leases increased 4%
- • Absence of $700MM FDIC special assessment from 1Q24
BAC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
BAC Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a good first quarter, with earnings per share of $0.90 up from $0.76 last year. This reflected growth in net interest income and fee income, while sales and trading delivered its 12th consecutive quarter of year-over-year revenue growth. Our business clients have been performing well; and consumers have shown resilience, continuing to spend and maintaining healthy credit quality. Though we potentially face a changing economy in the future, we believe the disciplined investments we have made for high-quality growth, our diverse set of businesses, and the team's relentless focus on Responsible Growth will remain a source of strength.”
— Brian Moynihan, Q1 2025 Earnings Press Release
BAC Earnings Trends
BAC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BAC EPS Trend
Earnings per share: estimate vs actual
BAC Revenue Trend
Quarterly revenue: estimate vs actual
BAC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.11 | — | $30.27B | — |
| Q4 25 BEAT FY | $0.98 | $0.98 | +0.34% | $28.37B | — |
| FY Full Year | $3.81 | $3.81 | +0.09% | $113.10B | +2.83% |
| Q3 25 BEAT | $0.95 | $1.06 | +12.04% | $28.09B | +2.29% |
| Q2 25 BEAT | $0.87 | $0.89 | +2.18% | $26.46B | -1.16% |
| Q1 25 BEAT | $0.82 | $0.90 | +10.28% | $27.37B | +1.71% |