Merrill Lynch Posts 3rd Consecutive Lost

Merrill Lynch reports net loss of $1.96 billion ($2.19 per share) on $2.9 billion in revenue to mark its third consecutive quarter of losses. The street was looking for an EPS of at least $1.72. Instead, brokers were treated to $6.5 billion in writedowns, a 40% drop in investment banking fees, a 69% decline in revenue, a $3 billion dollar reduction in bond insurance contracts, and declining revenues and profits across every sector.


Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In