Banks have been releasing loan loss reserves when defaults didn't arrive.
Here's what Wall Street expects: Earnings: 71 cents a share, 39% higher than a year earlier, according to Refinitiv.Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during "Barron's Roundtable" at Fox Business Network Studios on January 09, 2020 in New York City.is scheduled to report third-quarter earnings before the opening bell Thursday.Earnings: 71 cents a share, 39% higher than a year earlier, according to Refinitiv.Net Interest Income: $10.
Like other lenders, Bank of America set aside billions of dollars for credit losses last year, when the industry anticipated a wave of defaults tied to the coronavirus pandemic. Banks have been releasing some of those funds when the losses didn't arrive, and analysts will be curious how much of a boost that dynamic will have in the second half of the year.
They will also likely ask CEO Brian Moynihan about succession planning after his most senior deputy, chief operating officer Tom Montag,
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