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The Week Ahead: Bank of America Q2 Results

On Monday, July 16, Bank of America will report its second-quarter financial results. The bank said that the results would be released at around 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET. 

For the first quarter, the bank reported record quarterly earnings of $6.9 billion on Monday, with its pretax earnings of $8.4 billion up 15 percent. Bank of America, which is among the nation's largest banks, also increased its lending during the quarter, driven by an increase in consumer spending. It reported an increase of 3 percent in loans to $352 billion. Its noninterest income increased $327 million to $11.5 billion marking a 3 percent increase over the last quarter, while its noninterest expenses declined 1 percent to $13.9 billion.

Here's what else is in store in The Week Ahead:

  • NAR Housing Market Index, Tuesday, 10 a.m. ET
  • Fed Chair Jerome Powell’s semiannual monetary policy testimony, Tuesday, 10 a.m. ET
  • MBA Mortgage Apps, Wednesday, 7 a.m. ET
  • Housing Starts Survey, Wednesday, 8:30 a.m. ET

Learn more about Housing and Financial Reports:

Bank of America Reports Record Earnings in Q1

Are Rising Housing Starts Really Balancing Demand?

Powell’s Congressional Testimony Backs Further Interest Rate Hikes

 

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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