#BofAQ3HitByFines

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About BofAQ3HitByFines

BofA Q3 revenue rose 3.2% YoY to ~$29.96B, missing estimates. ~$1.2B in fines cut EPS to $0.91; adjusted EPS of $1.08 slightly missed. Shares fell ~4.8% Oct 14. US Treasury confirmed AML and sanctions penalties above $1.21B. Morgan Stanley’s wealth revenue hit a record; net new assets totaled $232B, over half IPO-linked. Goldman’s trading gains added to the divergence. Can IPOs and trading sustain revenue? How will compliance costs, credit quality and high rates affect profits and valuations?