Investing.com — Bank of America reported better-than-expected results for the fourth quarter of fiscal 2024, sending its shares up nearly 2% in premarket trading Thursday.

The bank reported earnings per share (EPS) of 82 cents, topping the consensus estimate of 77 cents.

Revenue, net of interest expense, was reported at $25.3 billion, also above the $25.13 billion that analysts had projected.

BofA’s net interest income (NII) came in at $14.36 billion, above expectations of $14.12 billion, while net interest income on a fully taxable equivalent (FTE) basis came in at $14.51 billion, beating the $14.34 billion forecast. estimate.

The bank’s return on average equity for the quarter was 9.37%, ahead of estimates of 8.75%.

The return on common assets stood at 0.8%, above the 0.74% estimate, and the return on common tangible common equity was 12.6%, which exceeded the 11.9% projection.

“We ended 2024 with a strong fourth quarter. Every source of revenue improved, and we saw better than average growth in the deposits and loans industry,” said BofA Chair and CEO Brian Moynihan. .

“We also ended with strong capital and liquidity, enabling us to return $21 billion in capital to shareholders by 2024. We believe this broad momentum sets 2025 up well for Bank of America. “