Bank of America reported third-quarter profit of $6.9 billion, or 91 cents per share, and missed estimates even excluding a $1.2 billion regulatory settlement charge. Sales and trading revenue fell 5% to $5.1 billion, while investment banking fees fell 11% to $1.8 billion.
Bank of America reported profit of $6.9 billion, or 91 cents per share, for the three months ended September 30, compared with $8.3 billion, or $1.04 per share, a year earlier. Excluding a $1.2 billion regulatory settlement charge, it earned $1.08 per share, below estimates of $1.10.
Sales and trading revenue fell 5% to $5.1 billion, dragged down by weakness in fixed income, currencies and commodities. Investment banking fees fell 11% to $1.8 billion, and the bank slipped to fourth place in the global investment banking league table for the first nine months of 2026, from third a year earlier.
The charge stems from the bank's failure to report more than $5 billion in suspicious activity to the US government. Regulators placed Bank of America under a consent order requiring it to work with a third party to identify and report suspicious transactions that went undetected.
