Bank of America Corporation · Q2 2026
ReportedJul 14, 2026
Period endedJun 30, 2026
Rule of 40+107
Consensus vs reported
EPS
BEAT +7%
$1.21
vs $1.13 expected
QoQ+9.0%
YoY+36.0%
Revenue
BEAT +3%
$31.56B
vs $30.72B expected
QoQ+4.2%
YoY+15.0%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
The quarter in short
Revenue $31.56B, up 15.0% year over year and 4.2% on the quarter. EPS $1.21, up 36.0% year over year and 9.0% on the quarter. Free cash flow $29.04B, down 30.5% on the quarter. EPS beat consensus by 7%. Rule of 40 score +107.
Reported this quarter
Revenue
$31.56B
QoQ +4.2%
YoY +15.0%
EPS
$1.21
QoQ +9.0%
YoY +36.0%
Free Cash Flow
$29.04B
QoQ −30.5%
YoY —
FCF Margin
92.0%
QoQ −46.0 pp
YoY +125.3 pp
P/E Ratio
13.1
QoQ +8.0%
YoY −2.5%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- A 34% EPS beat moved the stock 1.9%, and that is the finding. $1.21 against a $1.13 consensus, revenue of $31.6B against a $30.72B estimate, into a stock already up roughly 15% over six months and sitting near its 52-week high. The quarter was priced before it printed.
- The guidance moved further than the print did. Management raised the full-year operating-leverage target to 300–400 basis points from "more than 200" , and put net interest income growth at the top end of the 6–8% range.
- The trading streak reached seventeen quarters. Global Markets logged its 17th consecutive quarter of year-over-year trading revenue growth, sales and trading +33%, Equities +70% to $3.6B . Investment banking fees rose 50%.
- The deposit franchise compounded without paying for it. Average deposits of $2.02 trillion across twelve straight quarters of growth, sourced from operating accounts rather than rate-chasing, against average loans up 8% to $1.22 trillion.
- Management flagged its own tougher comps before anyone asked. Both NII and investment banking were already accelerating a year ago, so the second half looks softer on a year-over-year basis for reasons that are arithmetic rather than operational.
Coverage around this release
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q4 | — | $0.81 | — |
| 2025 Q1 | — | $0.90 | — |
| 2025 Q2 | — | $0.89 | — |
| 2025 Q3 | — | $1.06 | — |
| 2025 Q4 | — | $0.98 | — |
| 2026 Q1 | — | $1.11 | — |
| 2026 Q2 | $1.13 | $1.21 | +7% |
| 2026 Q3 | — | not yet reported | — |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 70858.
HTML
8-K results announcement
Filed Jul 14, 2026
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
71 KB
HTM
THE PRESENTATION MATERIALS (EX-99.2)
Exhibit 99.2 to the 8-K
71 KB
HTM
THE SUPPLEMENTAL INFORMATION (EX-99.3)
Exhibit 99.3 to the 8-K
3.1 MB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
Raw archival text of the whole filing
HTML
10-Q quarterly report
Period ended Jun 30, 2026, filed Jul 31, 2026
ZIP
XBRL data bundle
Structured financial statements from the 10-Q
JSON
Company facts (XBRL)
Every figure BAC has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q2 2026, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings