Bank of America Corporation (NYSE:BAC) Q3 2023 Earnings Call Transcript October 17, 2023 8:30 AM ET
Company Participants
Lee McEntire - IR
Brian Moynihan - CEO
Alastair Borthwick - CFO
Conference Call Participants
Gerard Cassidy - RBC
Jim Mitchell - Seaport Global
Erika Najarian - UBS
Mike Mayo - Wells Fargo
Steven Chubak - Wolfe Research
Matt O'Connor - Deutsche Bank
John McDonald - Autonomous Research
Vivek Juneja - JPMorgan
Ken Usdin - Jefferies
Manan Gosalia - Morgan Stanley
Chris Kotowski - Oppenheimer
Operator
Good day everyone and welcome to the Bank of America Earnings Announcement. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during a question-and-answer session. Please note today's call will be recorded and we will be standing by if you should need any assistance.
It is now my pleasure to turn today's conference over to Lee McEntire, Investor Relations. Please go ahead.
Lee McEntire
Good morning. Thank you. Welcome and thank you for joining the call to review the third quarter results. As usual, our earnings release documents are available on the Investor Relations section of the bankofamerica.com website, and it includes the earnings presentation that we will be referring to during the call. I trust everybody's had a chance to review the documents.
I'm going to first turn the call over to our CEO, Brian Moynihan, for some opening comments before, Alastair Borthwick, our CFO, discusses the details of the quarter. Before we do that, let me just remind you that we may make forward-looking statements and refer to some non-GAAP financial measures during the call. Forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties. Factors that may cause our actual results to materially differ from expectations are detailed in our earnings materials as well as the SEC filings available on our website. Information about non-GAAP financial measures, including reconciliations to US GAAP, can also be found in our earnings materials that are on the website.
So with that, Brian, I'll turn the call over to you.
Brian Moynihan
Good morning, everyone, and thank you for joining us. As usual, we're starting on Slide 2. Our third quarter here at Bank of America was another strong quarter as we delivered $7.8 billion in net income. That is a 10% growth over the year-ago third quarter. And for the first nine months of the year, we have earned $23.4 billion, an increase of 15% over 2022.