Bank of America (BAC) Q2 FY2026 earnings: revenue $31.6 billion, up 15.0% on the year

Bank of America Corp. (BAC) reported revenue of $31.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 15.0% on the same quarter a year earlier. Net income was $9.1 billion, up 26.6% on the year, and diluted earnings per share $1.21. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue

$31.6 billion

+15.0% on the year · +4.2% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

n/a

Q3 FY2024Q2 FY2026

Net income

$9.1 billion

+26.6% on the year · +5.7% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$1.21

+34.4% on the year · +9.0% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Net income and EPS rose: The company reported net income of $9.1 billion, up 27%, and diluted EPS of $1.21, up 34% from $0.90 a year earlier.
Revenue up 15% on higher NII: Revenue, net of interest expense, rose 15% to $31.6 billion. Net interest income rose 9% to $16.0 billion, helped by Global Markets activity, higher balances and fixed-rate asset repricing.
Global Markets revenue up 34%: Global Markets net income was $2.6 billion, or $2.7 billion excluding net DVA. Revenue rose 34% to $8.0 billion, and noninterest expense rose 18%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	31,558	30,272	27,443	+4.2%	+15.0%
Pre-tax income	11,565	10,404	8,668	+11.2%	+33.4%
Income tax	2,491	1,820	1,498	+36.9%	+66.3%
Effective tax rate	21.5%	17.5%	17.3%
Net income	9,074	8,584	7,170	+5.7%	+26.6%
Net margin	28.8%	28.4%	26.1%
Diluted EPS	$1.21	$1.11	$0.90	+9.0%	+34.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	29,043	41,770	-9,132	-30.5%
Cash from investing	-16,757	-66,451	-56,918
Cash from financing	-24,731	35,915	55,059
Depreciation and amortisation	612	605	571	+1.2%	+7.2%
Share-based compensation	1,118	1,032	1,015	+8.3%	+10.1%
Buybacks	6,006	7,240	5,302	-17.0%	+13.3%
Dividends paid	2,330	2,626	2,200	-11.3%	+5.9%
Dividend per share	$0.28	$0.28	$0.26	0.0%	+7.7%
Diluted shares, weighted	7,294m	7,418m	7,652m	-1.7%	-4.7%
Shares outstanding at period end	7,018m	7,130m	7,437m	-1.6%	-5.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	301,094	300,668	299,599	+0.1%	+0.5%
Deposits	2,025,124	2,037,663	2,011,613	-0.6%	+0.7%
Repurchase agreements	332,218	353,020	399,460	-5.9%	-16.8%
Trading liabilities	123,162	129,833	107,426	-5.1%	+14.6%
Debt	732,060	736,614	760,769	-0.6%	-3.8%
Total liabilities and equity	3,499,191	3,496,186	3,441,142	+0.1%	+1.7%
Fixed assets	12,788	12,539	12,254	+2.0%	+4.4%
Goodwill	69,021	69,021	69,021	0.0%	0.0%
Intangible assets	1,800	1,800	1,900	0.0%	-5.3%
Securities held for sale or to maturity	854,339	883,701	919,319	-3.3%	-7.1%
Loans	1,204,505	1,191,887	1,133,765	+1.1%	+6.2%
Resale agreements	412,415	383,264	352,392	+7.6%	+17.0%
Trading assets	358,748	364,221	356,584	-1.5%	+0.6%
Cash and equivalents	229,745	242,479	266,011	-5.3%	-13.6%
Other assets	355,830	347,274	329,896	+2.5%	+7.9%
Total assets	3,499,191	3,496,186	3,441,142	+0.1%	+1.7%

Questions

What was Bank of America's revenue in Q2 FY2026?

Bank of America (BAC) reported revenue of $31.6 billion for Q2 FY2026, the quarter ended 30 June 2026, up 15.0% on the same quarter a year earlier.

How much did Bank of America earn in Q2 FY2026?

Net income for Q2 FY2026 was $9.1 billion, up 26.6% on the year, and diluted earnings per share $1.21.

When did Bank of America report Q2 FY2026 results?

Bank of America filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 31 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	22,060	23,228	22,688	24,502	24,532	26,258	25,197	25,167	21,959	25,818	25,377	25,345	25,347	28,247	27,443	29,040	28,367	30,272	31,558	29,958
Interest expense	1,144	1,322	2,531	5,856	10,394	14,207	18,196	19,245	21,683	22,253	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	7,818	7,879	6,892	8,301	7,897	9,089	8,034	8,095	3,124	7,262	7,560	7,324	7,108	8,997	8,668	10,408	9,622	10,404	11,565	8,967
Tax rate	10%	10%	9%	15%	10%	10%	8%	4%	-1%	8%	9%	6%	6%	18%	17%	20%	21%	17%	22%	23%
Net income	7,013	7,067	6,247	7,082	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,360	7,170	8,332	7,647	8,584	9,074	6,933
Net margin	32%	30%	28%	29%	29%	31%	29%	31%	14%	26%	27%	27%	26%	26%	26%	29%	27%	28%	29%	23%
Diluted EPS	$0.83	$0.80	$0.73	$0.81	$0.85	$0.94	$0.88	$0.90	$0.36	$0.76	$0.83	$0.81	$0.81	$0.89	$0.90	$1.04	$0.98	$1.11	$1.21	$0.91
Operating cash flow	44,651	-45,430	-5,049	13,154	30,998	-11,300	11,786	11,772	32,724	-15,539	18,096	-37,276	25,914	-2,184	-9,132	46,874	-22,945	41,770	29,043	-6,499
Buybacks	7,533	2,650	975	450	998	2,215	550	1,000	811	2,500	3,535	3,534	3,535	4,521	5,302	5,300	6,310	7,240	6,006	6,005
Dividends paid	1,965	2,222	1,995	2,254	2,105	2,352	2,091	2,411	2,233	2,519	2,216	2,493	2,275	2,552	2,200	2,451	2,360	2,626	2,330	2,617
Shares outstanding	8,078m	8,062m	8,035m	8,024m	7,997m	7,972m	7,954m	7,923m	7,895m	7,867m	7,775m	7,689m	7,611m	7,560m	7,437m	7,329m	7,212m	7,130m	7,018m	6,923m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 31 July 2026: the filing.