Bank of America Corporation · BML-PJ · FY2026 Q2 · Calendar Q3 2026

Bank of America pairs broad growth with stronger AI execution

The quarter supports a constructive operating case: broad revenue growth, deposit and loan expansion, and rising AI adoption were paired with maintained guidance. The main test is whether operating leverage and AI productivity remain durable if rates stay restrictive or fee activity slows.

Reported Before market openNYSEFinancial Services $322.90B market cap
85quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.21 Consensus $1.13
EPS surprise +7.1% Reported versus consensus
Reported revenue $31.56B Consensus $30.78B
Revenue surprise +2.5% Reported versus consensus

Market reaction

unavailable
Stock move — Event window
SPY move — Same window
Abnormal move — Stock minus SPY
Volume — Versus trailing sessions
Subsequent drift — Up to 20 sessions
Price and volume data were unavailable at publication time.

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What changed

Compared with the prior quarter, management reported a stronger 300–400 basis-point full-year operating-leverage outlook, while AI deployment advanced to more than 300 approved use cases and 114 live applications. The guidance sentiment was maintained rather than raised.

Guidance delta

Management maintained the outlook for full-year net interest income growth at the top of the 6%–8% range and operating leverage of 300–400 basis points.

Key takeaways

  • Management described double-digit revenue and net-income growth across the business, with operating leverage in every segment.
  • Deposits rose 2.5% to $2.02 trillion and loans grew 8% year over year, supporting the net interest income outlook.
  • AI adoption expanded to more than 300 approved use cases and 114 live generative-AI applications.
  • Capital remained strong, with a 11.2% CET1 ratio and $8 billion returned to shareholders.

Management priorities

  • Expand AI use cases beyond the 114 already live.
  • Continue digital and rewards investment in Consumer Banking.
  • Maintain disciplined expense growth while pursuing higher operating leverage.
  • Grow loan and deposit balances, emphasizing operating accounts and high-quality clients.

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Earnings History

Estimate Beat Miss Match
BML-PJ EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 actual $0.83, None Q2 '24 actual $0.87, None Q2 '25 estimate $0.86 Q2 '25 actual $0.93, beat Q3 '25 estimate $0.95 Q3 '25 actual $1.10, beat Q4 '25 estimate $0.96 Q4 '25 actual $0.98, beat Q1 '26 estimate $1.01 Q1 '26 actual $1.11, beat Q2 '26 estimate $1.13 Q2 '26 actual $1.21, beat Q3 '26 estimate $1.10 Q3 '26 actual $1.10, match Q4 '26 estimate $1.15 Q1 '27 estimate $1.24 Q2 '27 estimate $1.34 Q3 '27 estimate $1.33
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Analyst Consensus ?

ConsensusHold39 ratings
Bullish1948.7%
Neutral1846.2%
Bearish25.1%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Oppenheimer Outperform OutperformMaintainOct 17, 2023
BMO Capital Market Perform Market PerformMaintainOct 17, 2023
Morgan Stanley Equal Weight Equal WeightMaintainOct 2, 2023
Piper Sandler Underweight UnderweightMaintainSep 14, 2023
RBC Capital Outperform OutperformMaintainSep 11, 2023
Wells Fargo Overweight OverweightMaintainAug 22, 2023
Citigroup Neutral NeutralMaintainJun 13, 2023
Evercore ISI Group Outperform OutperformMaintainMay 11, 2023
Keefe, Bruyette & Woods Underperform UnderperformMaintainApr 18, 2023
Barclays Overweight OverweightMaintainApr 11, 2023
JP Morgan Overweight OverweightMaintainApr 9, 2023
Goldman Sachs Buy BuyMaintainApr 2, 2023
Odeon Capital Hold BuyDowngradeMar 7, 2023
Atlantic Equities Neutral OverweightDowngradeJan 30, 2023
Deutsche Bank Hold BuyDowngradeJan 5, 2023
Credit Suisse Outperform OutperformMaintainJul 18, 2022
Societe Generale Buy HoldUpgradeJul 10, 2022
Baird Neutral UnderperformUpgradeMar 7, 2022
Wolfe Research Peer Perform OutperformDowngradeOct 6, 2021
DA Davidson Neutral BuyDowngradeJul 8, 2020
UBS Neutral NeutralMaintainMay 3, 2020
CFRA Buy BuyMaintainApr 14, 2020
Raymond James Market Perform OutperformDowngradeAug 28, 2019
Jefferies Hold BuyDowngradeApr 16, 2019
Nomura Buy BuyMaintainOct 15, 2017
Berenberg Hold BuyDowngradeApr 23, 2017
Macquarie Outperform NeutralUpgradeFeb 15, 2017
Standpoint Research Hold BuyDowngradeNov 30, 2016
Guggenheim Neutral BuyDowngradeNov 14, 2016
CLSA Outperform OutperformMaintainSep 22, 2016
Bernstein Outperform NeutralUpgradeAug 24, 2015
Portales Partners Sector Perform OutperformDowngradeMay 27, 2015
FBR Capital Outperform Market PerformUpgradeOct 15, 2014
SunTrust Robinson Humphrey Neutral NeutralMaintainApr 24, 2014
Scotiabank Sector Outperform Sector PerformUpgradeMar 14, 2013
Edward Jones Buy HoldUpgradeMar 7, 2013
ISI Group Buy BuyMaintainJan 6, 2013
Stifel Buy HoldUpgradeNov 18, 2012
Sterne Agee Neutral NeutralMaintainOct 17, 2012
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Company context

Snapshot as of publication

Bank of America is a prominent financial institution that, through its various subsidiaries, delivers a comprehensive array of banking and financial solutions across the globe. Its vast clientele spans individual consumers, small and mid-sized businesses, institutional investors, large corporations, and governmental entities. The Consumer Banking division caters to individual clients, offering essential financial products such as diverse savings accounts (including money market options), certificates of deposit (CDs), IRAs, and both interest-bearing and noninterest-bearing checking accounts, alongside basic investment products. It also extends various lending facilities, including credit and debit cards, residential mortgages, home equity loans, and direct and indirect personal loans for vehicles (automotive, RV) and other consumer needs.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-07-14T16:04:20.019282+00:00
  2. FN2 earnings calendar · 2026-08-19T01:23:14.696161+00:00
  3. Polygon adjusted daily market bars

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-15. For educational purposes only; not investment advice.