S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

Bank of America, J.B. Hunt and M&T Bank Profit Soar


Author: Mukesh Buch
ticker.com
Last Update: 12:23 PM EDT April 16 2018

11:45 PM New York Bank of America first-quarter net surged 30% to $6.9 billion. J.B. Hunt Transport first-quarter net jumped 6% to $118 million. M&T Bank Corp first-quarter net rose 1% to $353 million.

Tollbooth Index declined 740.22 or 5.1% to 13,856.32 and for the year-to-date increased 6%.

Earnings Review

Bank of America Corporation (BAC), the banking and investment services provider reported revenues in the first-quarter ending in March jumped 4% from a year ago to $23.1 billion.

Net income in the quarter surged 30% to $6.9 billion or 62 cents per diluted share from $2.4 billion or 20 cents in the same quarter last year.

The bank reported non-interest expense in the quarter fell 1% to $13.9 billion and provision for credit losses stable at $834 million

Average loan balances in business segments advanced 5% to $864 billion and average deposit balances increased 3% to a record $1.3 trillion, led by consumer banking segment.

J.B. Hunt Transport Services Inc (JBHT), the trucking and logistics company said revenues in the first-quarter ending in March surged 20% from a year ago to $1.9 billion.

Net income in the quarter jumped 6.1% to $118.1 million or $1.07 per diluted share from $102.7 million or 92 cents in the same quarter last year.

M&T Bank Corporation (MTB), the banking services provider reported revenues in the first-quarter ending in March advanced 8% from a year ago to $1.1 billion.

Net income in the quarter rose 1% to $352.6 million or $2.23 per diluted share from $348.9 million or $2.12 in the same quarter last year.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc