Q3 25 EPS
$1.06
BEAT +12.04%
Est. $0.95
Q3 25 Revenue
$28.09B
BEAT +2.29%
Est. $27.46B
vs S&P Since Q3 25
-6.1%
TRAILING MARKET
BAC +2.2% vs S&P +8.3%
Market Reaction
Did BAC Beat Earnings? Q3 2025 Results
Bank of America delivered a standout third quarter for fiscal 2025, posting earnings per share of $1.06 against a consensus estimate of $0.95, a beat of 12.04%, while revenue climbed 10.8% year-over-year to $28.09 billion, topping analyst forecasts b… Read more Bank of America delivered a standout third quarter for fiscal 2025, posting earnings per share of $1.06 against a consensus estimate of $0.95, a beat of 12.04%, while revenue climbed 10.8% year-over-year to $28.09 billion, topping analyst forecasts by 2.29%. The headline driver was a record $15.23 billion in net interest income, up 9% from a year ago and marking the fifth consecutive quarter of sequential NII growth, underscoring the bank's ability to capitalize on its deposit and lending franchise as average deposits rose 4% to $1.99 trillion and average loans grew 9% to $1.15 trillion. Credit quality added further lift, with provision for credit losses falling to $1.29 billion from $1.54 billion a year earlier and net charge-offs declining to a 0.47% ratio. Looking ahead, management guided fourth-quarter NII to a range of $15.60 billion to $15.70 billion, representing approximately 8% growth versus the prior-year period, signaling continued confidence in the bank's earnings trajectory entering 2026.
Key Takeaways
- • Record net interest income driven by fixed-rate asset repricing, higher deposit and loan balances, and Global Markets activity
- • Investment banking fees surged 43% YoY to $2.0B, with 136 bps gain in market share to #3 ranking
- • Sales and trading revenue up 9% YoY to $5.4B, marking 14th consecutive quarter of YoY growth
- • Asset management fees grew 12% to $3.9B from higher market valuations and strong AUM flows
- • Average loan growth of 9% YoY across all business segments, 20th consecutive quarter of growth
- • Average deposit growth of 4% YoY, 9th consecutive quarter of sequential growth
- • Net charge-off ratio improved to 0.47% from 0.58% a year ago
- • Operating leverage of 5.6% as revenue growth outpaced expense growth
- • Digital engagement continued to grow with 49 million active digital banking users and 4.2 billion digital logins
BAC YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
BAC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Strong net income growth drove third quarter diluted earnings per share up 31% from last year. This in turn drove strong improvement in our returns on assets and equity. Revenue grew 11% year-over-year. Strong loan and deposit growth, coupled with effective balance sheet positioning, resulted in record net interest income. We also saw strong fee performance from our market-facing businesses. As revenues grew at a much faster rate than expenses, we drove good operating leverage and an efficiency ratio below 62%. With continued organic growth, every line of business reported top and bottom-line improvements. I thank our teammates for a strong quarter.”
— Brian Moynihan, Q3 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% |