Thndr Claps » U.S. Claps » NYSE 🔔 » Bank of America shooting above the standard ↗️
The ClapBank of America benefited from rising interest rates in Q2, but profit was still affected by $425 million in regulatory expenses.The DeetsRevenues had exceeded expectations, recorded at $22.79 billion. This is more than the expected $22.67 billion that analysts expected.This could be explained mainly by the net interest income which increased by 22% to $12.4 billion. The bank’s profits declined, however, by 32% to $6.25 billion.Why this matter?This news had pushed the stock of Bank of America down by around 1%. In addition to that, Bank of America was ordered to pay fines of $225 million this past Friday..
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