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

Bank of America Q2: Growth, deposits and AI support higher guidance

The supplied analysis supports a constructive near-term operating thesis: loan and deposit growth, fee revenue, efficiency gains and AI adoption are reinforcing earnings momentum. The main tests are whether operating leverage holds against tougher comparisons and whether rate or funding changes pressure NII and NIM.

Reported Before market openNYSEFinancial Services $325.69B 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.

Ask FN2 about BML-PL FY2026 Q2

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How did the market react to BML-PL FY2026 Q2 earnings, and why?What changed in BML-PL's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BML-PL after FY2026 Q2 earnings.

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Transcript intelligence

What changed

Compared with the prior quarter, Q2 showed faster reported growth, a better 59% efficiency ratio, 12 consecutive quarters of non-interest-bearing deposit growth, 114 live generative AI applications and NII guidance raised to the top of the 6–8% range.

Guidance delta

Management lifted full-year NII growth guidance to the top of the 6–8% range and expects 300–400 bps of operating leverage for the year.

Key takeaways

  • Q2 revenue and net income grew double digits, with operating leverage reaching 660 bps and the efficiency ratio improving to 59%.
  • Deposits reached $2.02 trillion, up 2.5% year over year; non-interest-bearing deposits rose 4%.
  • Management cited 114 live generative AI applications and continued deposit, technology and branch investment.
  • CET1 remained 11.2% and the company returned $8 billion to shareholders.

Management priorities

  • Expand AI use cases across operations, risk, finance and client-facing teams.
  • Focus on high-quality operating accounts and non-interest-bearing deposits.
  • Continue investments in technology, digital platforms and branch expansion.

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Earnings History

Estimate Beat Miss Match
BML-PL 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
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Company context

Snapshot as of publication

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services.…

Historical context

All BML-PL earnings
—FY2026 Q3 · Calendar Q4 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
MS-PO Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Wealth flows and equities lead a strong Q3
MS-PE Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Wealth flows and AI financing drive a strong Q3
MS-PL Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Record Q3, strong wealth flows and AI ambitions
MS-PA Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Record Q3, strong flows, higher AI investment
BAC-PS Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 — — Bank of America pairs loan growth with higher technology investment
BAC-PP Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 — — BofA: Core Banking Growth Offsets Markets Weakness and Settlement Charge

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-07-14T16:03:43.476740+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.