The Quarter in Brief
Bank of America reported its third quarter of 2026, the three months ended September 30, before the market opened on October 14. Revenue was $29.96 billion, up 3% from a year earlier. Net income was $6.93 billion, down 17%, and earnings per share were $0.91, against $1.04. The quarter carried a $1.2 billion charge for penalties under regulatory orders on the bank's anti-money-laundering and sanctions compliance, which is not tax deductible. Leaving it out, earnings were $1.08 a share.
That was a little below expectations: analysts had expected about $1.10 a share and about $30.58 billion of revenue, according to Financial Modeling Prep's consensus. What made the quarter different was the penalty. On October 13 the Office of the Comptroller of the Currency and FinCEN, the Treasury's financial crimes unit, announced orders the bank consented to, and the charge took 17 cents off earnings per share. Underneath it, net interest income, what the bank earns on loans and securities less what it pays on deposits and borrowings, rose 8%, while trading and investment banking revenue fell.