Bank of America Misses Third Quarter Trading Estimates
· Business · Bloomberg, CNBC
Bank of America reported that its stock and fixed-income traders missed revenue estimates during the third quarter. Bond-trading revenue fell by 17 percent, while equity trading revenue declined by 10 percent. Brean Capital director of research Chris Marinac noted the performance dip amid broader market conditions. The weaker trading figures reflect a challenging quarter for the bank's global markets division.
Why it matters
The trading revenue decline at a major global financial institution offers key insight into institutional trading health and Wall Street earnings trends.
Read the original report — Bloomberg
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