5 Big Bank Earnings Reports in Hindsight

Bank of America Corporation (NYSE:BAC) reported a lower net income in first quarter, but top analysts’ estimates.  Net income for the banks-major regional fell to $653 million (3 cents per share) vs. $2.05 billion (17 cents per share) a year earlier. This is a decline of 68.1% from the year-earlier quarter. Bank of America Corporation reported adjusted net income of 31 cents a share. By this measure, it beat the mean analyst estimate of 13 cents per share. It beat the average revenue estimate

Morgan Stanley (NYSE:MS) dropped to a first quarter loss, but results topped expectations. Reported a loss of $78 million (6 cents per diluted share) in the quarter. Morgan Stanley had a net income of $964 million or 50 cents per share in the year-earlier quarter. Revenue was $6.93 billion last quarter. Morgan Stanley reported adjusted net income of 77 cents per share. By that measure, the company beat the mean estimate of 45 cents per share. It fell short of the average revenue estimate of $7.31 billion.

Fifth Third Bancorp (NASDAQ:FITB) reported net income above Wall Street’s expectations for the first quarter. Net income for Fifth Third Bancorp rose to $430 million (45 cents per share) vs. $265 million (10 cents per share) in the same quarter a year earlier. This marks a rise of 62.3% from the year-earlier quarter. Revenue was $1.67 billion last quarter. Fifth Third Bancorp beat the mean analyst estimate of 37 cents per share. It beat the average revenue estimate of $1.54 billion.

Capital One Financial Corporation (NYSE:COF) reported net income above Wall Street’s expectations for the first quarter. Net income for the financial consultation and loans rose to $1.4 billion ($2.72 per share) vs. $1.02 billion ($2.21 per share) in the same quarter a year earlier. This marks a rise of 37.4% from the year-earlier quarter. Rose 20.9% to $4.93 billion from the year-earlier quarter. Capital One Financial Corporation reported adjusted net income of $1.56 per share. By that measure, the company beat the mean estimate of $1.39 per share. It beat the average revenue estimate of $4.36 billion.

E*TRADE Financial Corporation (NASDAQ:ETFC) reported net income above Wall Street’s expectations for the first quarter. Net income for E*TRADE Financial Corporation rose to $62.6 million (22 cents per share) vs. $45.2 million (16 cents per share) in the same quarter a year earlier. This marks a rise of 38.4% from the year-earlier quarter. Revenue was $489.4 million last quarter. E*TRADE Financial Corporation beat the mean analyst estimate of 9 cents per share. It beat the average revenue estimate of $455.1 million.

More from The Cheat Sheet