Investing.com – Bank of America reported a diluted earnings per share (EPS) for the first three months of the year that was in line with the consensus forecast, though revenue for the first quarter came in slightly below expectations.
Specifically, the bank reported that net income declined 13% to $2.7 billion with earnings per diluted share of $0.21.
Revenue, net of interest expense was reported to be $19.7 billion. Exluding market-related net interest income adjustments revenue dropped to $20.9 billion from the $21.6 billion reported in the first quarter of 2015.
Analysts had forecast EPS of $0.21 and revenue of $21.83 billion.
After the report, shares in Bank of America Corporation (NYSE:BAC) were flat at $13.79 in the pre-market.