# Bank of America (BAC) Q2 2026 earnings

Results filed 2026-07-14 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/bac/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/70858/000007085826000353/0000070858-26-000353-index.htm
> 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

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue, net of interest expense | $31.6 billion | up 15% from a year ago | GAAP |
| Net income | $9.1 billion | up 27% from $7.2 billion a year ago | GAAP |
| Diluted earnings per share | $1.21 | up 34% from $0.90 a year ago | GAAP |
| Efficiency ratio | 59% | improved 359 bps from a year ago | GAAP |
| Return on average tangible common shareholders' equity | 17.0% |  | non-GAAP |
| CET1 ratio (Standardized) | 11.2% |  |  |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Consumer Banking net income | $3.3 billion | up 10% |
| Global Wealth and Investment Management net income | $1.4 billion | up 42% |
| Global Banking net income | $2.0 billion | up 20% |
| Global Markets net income | $2.6 billion | up 72% |
| Sales and trading revenue | $7.1 billion | up 33% including and excluding net DVA |
| Total Corporation investment banking fees (excl. self-led) | $2.1 billion | up 50% |

## 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.

## 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.