OpenNashEarnings

Bank of America (BAC) · Banking

Bank of America Q2 2026 earnings: summary, key numbers & outlook

Results filed 14 Jul 2026 · Quarter ended 30 Jun 2026

Press release ↗Investor relations ↗

Summaries and transcripts are machine-generated and can contain errors.

In brief

Bank of America reported 2Q26 net income of $9.1 billion, EPS of $1.21, up 34% YoY, and revenue of $31.6 billion, up 15% YoY.

Bank of America earned $9.1 billion in the second quarter of 2026, up 27% from a year ago. Diluted earnings per share were $1.21, up 34%. Revenue rose 15% to $31.6 billion. Trading revenue, investment banking fees, asset management fees and net interest income all grew. Every business segment grew net income by double digits. Expenses rose 8%, so the efficiency ratio improved to 59%, and the bank returned $8.0 billion to shareholders.

The documents contain no numeric guidance for next quarter or the full year. CEO Brian Moynihan said pipelines remain strong and commercial borrowing has picked up. The bank's own rate sensitivity cuts both ways: a 100 basis point rise above the forward curve adds $1.0 billion to net interest income over 12 months, while a 100 basis point fall below it costs $2.2 billion. Much of the quarter's strength came from markets-facing businesses, which can swing with market conditions.

Key numbers

Revenue, net of interest expense · GAAP
$31.6 billion

up 15% from a year ago

Net income · GAAP
$9.1 billion

up 27% from $7.2 billion a year ago

Diluted earnings per share · GAAP
$1.21

up 34% from $0.90 a year ago

Efficiency ratio · GAAP
59%

improved 359 bps from a year ago

Return on average tangible common shareholders' equity · non-GAAP
17.0%

CET1 ratio (Standardized)
11.2%

Segment or metricValueChange
Consumer Banking net income$3.3 billionup 10%
Global Wealth and Investment Management net income$1.4 billionup 42%
Global Banking net income$2.0 billionup 20%
Global Markets net income$2.6 billionup 72%
Sales and trading revenue$7.1 billionup 33% including and excluding net DVA
Total Corporation investment banking fees (excl. self-led)$2.1 billionup 50%
Where each number comes from
  • Revenue, net of interest expense: “Revenue, net of interest expense, of $31.6 billion ($31.7 billion FTE),(A) up 15%, reflected higher net interest income (NII), sales and trading revenue”
  • Net income: “Net income of $9.1 billion compared to $7.2 billion, up 27% – Diluted earnings per share (EPS) of $1.21 compared to $0.90, up 34%”
  • Diluted earnings per share: “Net income of $9.1 billion compared to $7.2 billion, up 27% – Diluted earnings per share (EPS) of $1.21 compared to $0.90, up 34%”
  • Efficiency ratio: “Noninterest expense of $18.6 billion, up 8%, driven equally by revenue- related expenses and investments in people, brand and technology – Efficiency ratio improved 359 bps to 59%”
  • Return on average tangible common shareholders' equity: “Return on average common shareholders' equity ratio of 12.7%; return on average tangible common shareholders' equity ratio of 17.0%9”
  • CET1 ratio (Standardized): “CET1 ratio of 11.2% (Standardized);(D) well above the regulatory minimum”
  • Consumer Banking net income: “Consumer Banking • Net income of $3.3 billion • Revenue of $11.3 billion, up 5% • Average deposits of $957 billion were up 1%”
  • Global Wealth and Investment Management net income: “Global Wealth and Investment Management • Net income of $1.4 billion • Revenue of $6.9 billion, up 16%, driven by higher asset management fees, up 19% to $4.4 billion”
  • Global Banking net income: “Global Banking • Net income of $2.0 billion • Total Corporation investment banking fees (excl. self-led) of $2.1 billion, up 50% • $652 billion in average deposits, up 8%”
  • Global Markets net income: “Global Markets • Net income of $2.6 billion • Sales and trading revenue of $7.1 billion, incl. net debit valuation adjustment (DVA) losses of $57 million.”
  • Sales and trading revenue: “Sales and trading revenue of $7.1 billion, incl. net debit valuation adjustment (DVA) losses of $57 million. Up 33% incl. and excl. net DVA.”
  • Total Corporation investment banking fees (excl. self-led): “Total Corporation investment banking fees (excl. self-led) of $2.1 billion, up 50% • $652 billion in average deposits, up 8%”

Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.

From the filingQ2 2026vs year agovs last quarter
Revenue$31.6B+15.0%+4.2%
Net income$9.1B+26.6%+5.7%
Diluted EPS$1.21+34.4%+9.0%

Calculated by code from XBRL, not by the model.

Key takeaways

  1. Earnings per share rose 34% to $1.21

    Net income of $9.1 billion was up 27% from $7.2 billion, and diluted EPS of $1.21 compared with $0.90 a year earlier.

  2. Revenue grew 15% across every segment

    Revenue, net of interest expense, reached $31.6 billion, led by net interest income of $16.0 billion, sales and trading, asset management fees and investment banking fees.

  3. Operating leverage of 6.6% improved efficiency

    Noninterest expense rose 8% to $18.6 billion, slower than revenue, so the efficiency ratio improved 359 bps to 59%.

  4. Markets and investment banking drove outsized gains

    Sales and trading revenue of $7.1 billion was up 33%, equities revenue was up 70% to $3.6 billion, and investment banking fees were up 50% to $2.1 billion.

  5. Credit and capital stayed steady

    Net charge-offs were $1.4 billion versus $1.5 billion a year ago, the CET1 ratio was 11.2%, and $8.0 billion was returned to shareholders.

Charts

Revenue$31.6B+15.0% y/yQ2 2026
Q4 2024: $29.3B (worked out from the annual figure)Q4 ’24$29.3BQ1 2025: $28.2BQ1 ’25$28.2BQ2 2025: $27.4BQ2 ’25$27.4BQ3 2025: $29.0BQ3 ’25$29.0BQ4 2025: $28.4B (worked out from the annual figure)Q4 ’25$28.4BQ1 2026: $30.3BQ1 ’26$30.3BQ2 2026: $31.6BQ2 ’26$31.6BQ3 2026: $30.0BQ3 ’26$30.0B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$29.3B *
Q1 2025$28.2B
Q2 2025$27.4B
Q3 2025$29.0B
Q4 2025$28.4B *
Q1 2026$30.3B
Q2 2026$31.6B
Q3 2026$30.0B
Diluted EPS (GAAP)$1.21+34.4% y/yQ2 2026
Q1 2025: $0.89Q1 ’25$0.89Q2 2025: $0.90Q2 ’25$0.90Q3 2025: $1.04Q3 ’25$1.04Q1 2026: $1.11Q1 ’26$1.11Q2 2026: $1.21Q2 ’26$1.21Q3 2026: $0.91Q3 ’26$0.91
Data
Q1 2025$0.89
Q2 2025$0.90
Q3 2025$1.04
Q1 2026$1.11
Q2 2026$1.21
Q3 2026$0.91

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Questions

What were Bank of America's headline results for Q2 2026?

Net income was $9.1 billion, up 27%, and diluted EPS was $1.21, up 34%. Revenue, net of interest expense, was $31.6 billion, up 15% from a year ago.

Which businesses drove the growth?

Global Markets net income was $2.6 billion, with sales and trading revenue up 33% to $7.1 billion. Global Wealth and Investment Management earned $1.4 billion with asset management fees up 19% to $4.4 billion, and investment banking fees rose 50% to $2.1 billion.

How is net interest income trending, and what is the rate sensitivity?

Net interest income was $16.0 billion ($16.2 billion FTE), up 9% from a year ago. The bank estimates a 100 bps parallel rise above the forward curve adds $1.0 billion to 12-month NII, while a 100 bps fall lowers it by $2.2 billion.

How is credit quality?

Provision for credit losses was $1.4 billion versus $1.6 billion a year ago, and net charge-offs were $1.4 billion versus $1.5 billion. The net charge-off ratio was 0.47%, down from 0.55%, and the credit card charge-off rate was 3.55%.

Did Bank of America give financial guidance for next quarter or the year?

The documents give no numeric guidance. CEO Brian Moynihan said pipelines remain strong and commercial borrowing has picked up.

Documents

SEC filing