BAC Misses EPS and Revenue Estimates; BLK and MS Top Forecasts
BAC reported EPS of $1.08 vs a $1.10 estimate on Oct. 14 and its shares fell 4.76%; BLK posted $15.93 vs $14.32 and MS $3.03 vs $2.93.
BAC missed consensus estimates for both earnings per share and revenue on Wednesday, Oct. 14, while several other large-cap reporters posted results above forecasts. The earnings calendar does not state whether the reports came before or after the trading session.
BAC reported EPS of $1.08, compared with an estimate of $1.10, and revenue of $30.00 billion against an expected $30.58 billion, a shortfall of 1.91%. BAC shares fell 4.76% to 51.39, the third-largest decline among large caps for the day.
BLK posted EPS of $15.93, above the $14.32 estimate by $1.61, or 11.24%, with revenue of $7.75 billion versus $7.42 billion expected. MS reported EPS of $3.03 against a $2.93 estimate, and revenue of $20.34 billion compared with a $19.93 billion forecast, 2.06% above consensus.
PGR reported EPS of $4.37, slightly above the $4.35 estimate, but revenue of $22.30 billion fell short of the $22.61 billion forecast. STT posted EPS of $3.69 versus a $3.68 estimate, with revenue of $4.00 billion against $4.03 billion expected. FAST reported EPS of $0.35, compared with an estimate of $0.34, on revenue of $2.46 billion versus $2.44 billion.
The results arrived on a broad down day. The Financials sector fund XLF fell 0.55% to 54.52, and SPY declined 1.08%. September consumer price data released the same day showed annual inflation of 3.7%, above the 3.6% estimate.
Data
| Symbol | EPS actual | EPS estimate | Revenue actual | Revenue estimate | EPS vs estimate |
|---|---|---|---|---|---|
| BAC | 1.08 | 1.10 | $30.00B | $30.58B | miss |
| MS | 3.03 | 2.93 | $20.34B | $19.93B | beat |
| BLK | 15.93 | 14.32 | $7.75B | $7.42B | beat |
| PGR | 4.37 | 4.35 | $22.30B | $22.61B | beat |
| FAST | 0.35 | 0.34 | $2.46B | $2.44B | beat |
| STT | 3.69 | 3.68 | $4.00B | $4.03B | beat |
Data: FMP. Figures are close-to-close unless stated.
Neutral market summary for information only; not investment advice.
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