EarningsQ3 2026 Earnings Report
MX:BAC Q3 2026 EPS Results
Actual EPS$16.79
Consensus EPS$20.26
Beat/MissMissed by -$3.47
One Year Ago EPS$19.56
MX:BAC Q3 2026 Revenue Results
Actual Revenue$881.44B
Expected Revenue$564.38B
Beat/MissBeat by +$317.06B
YoY Revenue Growth-2.63%
Earnings Announcement Details
QuarterQ3 2026
Date10/14/2026
TimeBefore Open
Conference CallWednesday, October 14, 2026
MX:BAC Upcoming Earnings
Bank of America's next earnings date is estimated for January 15, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:BAC Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly constructive, with strong adjusted earnings, net interest income growth, loan and deposit momentum, record wealth-management flows, improved credit quality, solid capital generation, and continued productivity and AI investments. The main negatives were the $1.2 billion regulatory settlement, higher expenses, lower FICC and investment banking revenue, and a lower CET1 ratio. Management maintained positive medium-term operating-leverage and NII expectations, and the highlights significantly outweighed the lowlights.Company Guidance
Solid Adjusted Earnings and Revenue Growth
Third-quarter net income was $6.9 billion and earnings per share were $0.91. Excluding the $1.2 billion non-tax-deductible regulatory settlement charge, net income was $8.1 billion, or approximately $1.08 per share, up from last year. Revenue was approximately $30 billion, up around 3% year-over-year.
Strong Net Interest Income and Yield Expansion
Net interest income reached $16.6 billion on an FTE basis, up 8% year-over-year and $450 million from the second quarter. Net interest yield improved to 2.16%, up 15 basis points year-over-year and 8 basis points sequentially, moving closer to the 2.3% medium-term target. Management still expects approximately 8% full-year NII growth in 2026 and 8% or more growth in 2027.
Resilient Client Activity and U.S. Economy
Consumers continued to spend, with year-to-date money movement up 5% from 2025. Business clients invested and hired selectively, wealth clients remained engaged and sought advice, and commercial clients used more lending, treasury, and payments capabilities. Payment volumes, digital activity, loan demand, and wealth flows remained healthy.
Continued Consumer Client and Card Growth
Bank of America added 200,000 net new core consumer checking accounts during the quarter, bringing total checking account customers to 39 million and marking nearly eight straight years of quarterly progress. More than 1 million new card accounts were opened, while card balances grew nearly 5%. Consumer banking revenue rose about 4% to $11.6 billion and net income increased about 2% to $3.5 billion.
Consumer Deposits and Digital Engagement Reached New Highs
Consumer average deposits were approximately $949 billion, marking a sixth consecutive quarter of year-over-year growth. Non-interest-bearing deposits grew more than 4%, consumer investment assets reached $664 billion, up 14%, and digital adoption reached new highs with more than 50 million active users. Digital channels generated 71% of sales, while 80% of consumer households were digitally active.
BofA Rewards and Consumer Franchise Investments Gaining Traction
Since its May relaunch, BofA Rewards enrolled nearly 6 million clients. The company opened 14 financial centers during the quarter and plans to open about another 20 or more by year-end. Management said these investments contributed to continued account openings, non-interest-bearing deposit growth, higher new card originations and card balances, stronger digital engagement, and higher client satisfaction.
Record Wealth Management Performance and Flows
Wealth management revenue rose about 13% to $7.1 billion and net income increased 22% to more than $1.5 billion. Pre-tax margin approached 29% and return on allocated capital reached about 28%. Client balances exceeded $5 trillion for the first time, up 9%, while assets under management rose 12% to about $2.4 trillion. Quarterly net client flows were about $38 billion, including approximately $20 billion of AUM flows.
Broad-Based Wealth Client Acquisition and Lending Growth
Merrill added about 4,200 net new households with at least $500,000 in assets, up 17%, and the private bank added 417 net new relationships with at least $3 million under management. Ending wealth management loans rose about 12% to more than $280 billion, securities-based lending and wealth management grew 21%, and private bank lending increased for the 12th consecutive quarter.
Commercial Banking and Treasury Services Momentum
Commercial loans grew across every line of business, with average commercial loans up 8% year-over-year: small business increased 2%, business banking 9%, global commercial 6%, global corporate 10%, and GWIM custom lending 22%. Global banking average deposits rose 6% to $669 billion, average loans increased 8% to $419 billion, and treasury services revenue increased 10%. Year-to-date global banking revenue was up 5% and net income was up 7%.
Loan, Deposit, and Balance-Sheet Growth
Quarter-end loans increased $34 billion to $1.25 trillion, and loans have grown for 10 consecutive quarters. Ending deposits increased $14 billion sequentially and remained above $2 trillion; deposits were up $31 billion from the third quarter of 2025. More than 75% of year-over-year deposit growth came from non-interest-bearing deposits. Total assets were $3.4 trillion, global liquidity sources were $914 billion, and the company reduced short-term wholesale funding.
Strong Credit Quality
Credit quality improved modestly again. Provision expense was approximately $1.3 billion, lower than the second quarter, and the net charge-off ratio improved to 44 basis points. The 3.22% card loss rate and delinquencies declined for the sixth consecutive quarter year-over-year. Commercial criticized assets reached their lowest level on a rate basis since the fourth quarter of 2019, and non-performing loans fell from the second quarter.
Record Equities Quarter and Strong Year-to-Date Markets Results
Global markets revenue excluding DVA was $5.8 billion and net income was $1.2 billion. Equities delivered a record third quarter, with revenue up 10% to $2.5 billion, led by prime financing and strong client activity. International revenue also reached a record third quarter. Year-to-date global markets revenue was up 11% and net income was up 14%, both records for the firm.
Capital Returns and Balance-Sheet Efficiency
Bank of America returned $8.3 billion to shareholders through dividends and share repurchases, including $6 billion of share repurchases. The company improved balance-sheet efficiency by reducing securities balances and short-term wholesale funding while supporting $34 billion of quarterly loan growth. Management stated that capital generation provides substantial flexibility to support clients, meet regulatory requirements, pay dividends, and return remaining capital to shareholders.
Productivity, AI, and Technology Investments
The company continued investing in technology modernization, AI, client acquisition, marketing, franchise growth, and financial-crime remediation. Headcount was down nearly 3,500 from a year ago while sales-force headcount increased. Approximately 130 AI projects had been implemented, each with a stated payback, and management expects projects in the pipeline to increase from approximately $250 million to $300 million this year to $700 million next year in benefits. Bank of America also launched a GenAI tool for global banking prospecting and onboarding.
Positive Operating Leverage Outlook
Management expects to return to operating leverage in the fourth quarter and maintained its medium-term expectation of 200-300 basis points of operating leverage. Management cited NII growth, opportunities to grow fee businesses, disciplined headcount management, productivity gains, and stronger connectivity across consumer, wealth, small business, commercial, and investment businesses as drivers.
Healthy Investment Banking Pipeline
Total company investment banking fees were up 16% year-to-date after nine months, despite lower third-quarter fees. Management said pipelines remained healthy, the team added more pipeline during the quarter, and Bank of America ranked third in announced M&A in the third quarter. The company continues to invest in bankers, technology, and AI tools.
Continued Investment in Markets Capabilities
Management said it will continue investing in people, technology, and balance sheet in global markets, including rates, foreign exchange, and commodities, to build on existing strengths and fill gaps in the franchise. The company expects to continue growing these businesses and supporting clients.
MX:BAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed