Bank of America's CEO says he's bullish on the U.S. economy as earnings edge past expectations
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Bank of America CEO Brian Moynihan expressed optimism about the U.S. economy, reporting fourth-quarter earnings that exceeded expectations. The bank posted adjusted earnings of 98 cents per share on revenue of $28.4 billion, surpassing estimates. Revenue growth of 7% was driven by higher net interest income and asset-management fees. Moynihan noted the resilience of consumers and businesses, projecting continued growth in net interest income for the first quarter. Bank of America shares rose 1% in premarket trading following the announcement.
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