BAC Q3 2016 Earnings Report — Bank of America Corporation Revenue & Financial Results | Market Cap Arena

Bank of America CorporationBAC

Q3 2016 Earnings

Reported November 1, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$24.0B	$23.7B	—	1.3%	—
Op. Income	$7.3B	$6.8B	—	7.1%	—
Gross Margin	86.4%	85.5%	—	0.9pp	—
Net Margin	20.6%	20.1%	—	0.5pp	—
EPS (Diluted)	$0.41	$0.36	—	13.9%	—
Free Cash Flow	$526M	$15.3B	—	-96.6%	—

Revenue Flow

Item	Amount
REVENUE	$24.0B
Cost of Revenue	$3.3B
GROSS PROFIT	$20.8B
R&D Expenses	$0
Selling & Marketing	$410M
General & Administrative	$10.0B
SG&A Expenses	$10.4B
Other Expenses	$3.0B
Operating Expenses	$13.5B
Cost & Expenses	$16.7B
OPERATING INCOME	$7.3B
Interest Income	$12.6B
Interest Expense	$2.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$7.3B
Income Tax Expense	$2.3B
Net Income from Continuing Ops	$5.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.0B
Net Income Deductions	-$75M
BOTTOM LINE NET INCOME	$4.5B
D&A	$564M
EBIT	$7.3B
EBITDA	$7.9B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$24.0B
Cost of Revenue	$3.3B
GROSS PROFIT	$20.8B
R&D Expenses	$0
Selling & Marketing	$410M
General & Administrative	$10.0B
SG&A Expenses	$10.4B
Other Expenses	$3.0B
Operating Expenses	$13.5B
Cost & Expenses	$16.7B
OPERATING INCOME	$7.3B
Interest Income	$12.6B
Interest Expense	$2.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$7.3B
Income Tax Expense	$2.3B
Net Income from Continuing Ops	$5.0B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$5.0B
Net Income Deductions	-$75M
BOTTOM LINE NET INCOME	$4.5B
D&A	$564M
EBIT	$7.3B
EBITDA	$7.9B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$5.0B
Depreciation & Amortization	$564M
Stock-Based Compensation	$125M
Deferred Income Tax	$2.0B
Other Non-Cash Items	$472M
Change in Working Capital	-$7.6B
OPERATING CASH FLOW	$526M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$88.6B
Sales/Maturities of Investments	$65.8B
Other Investing Activities	-$9.7B
NET CASH FROM INVESTING	-$32.5B
Net Debt Issuance	-$10.5B
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$1.2B
Other Financing Activities	$17.0B
NET CASH FROM FINANCING	$3.9B
FREE CASH FLOW	$526M
Net Change in Cash	-$27.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$151.9B
Short-Term Investments	$301.4B
Net Receivables	$75.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$528.6B
PP&E (Net)	$9.1B
Goodwill	$69.7B
Intangible Assets	$5.6B
Long-Term Investments	$1.1T
Tax Assets	$0
Other Non-Current Assets	$518.0B
TOTAL NON-CURRENT ASSETS	$1.7T
TOTAL ASSETS	$2.2T
Account Payables	$0
Short-Term Debt	$205.1B
Deferred Revenue	$0
Other Current Liabilities	$1.3T
TOTAL CURRENT LIABILITIES	$1.7T
Long-Term Debt	$225.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$43.5B
TOTAL NON-CURRENT LIABILITIES	$268.6B
TOTAL LIABILITIES	$1.9T
Common Stock	$148.3B
Additional Paid-In Capital	$0
Retained Earnings	$98.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$1.7B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$270.1B
Minority Interest	$0
TOTAL EQUITY	$270.1B
TOTAL LIABILITIES & EQUITY	$2.2T
Total Debt	$430.2B
Net Debt	$278.3B