CHARLOTTE (dpa-AFX) - Bank of America Corp. (BAC) reported Monday that net
income applicable to common shareholders for the second quarter declined to
$6.58 billion from last year's $7.10 billion, with earnings per share decreasing
to $0.83 from $0.88 in the prior year.

On average, 18 analysts polled by Thomson Reuters expected the company to report
earnings of $0.80 per share for the quarter. Analysts' estimates typically
exclude special items.

The provision for credit losses was $1.51 billion, compared to $1.13 million
last year.

Total revenue, net of interest expense, edged up 1 percent to $25.38 billion
from $25.20 billion in the prior-year quarter. Wall Street expected revenues of
$25.22 billion for the quarter.

Net interest income was $13.70 billion, down 3 percent from last year, while
non-interest income improved 6 percent to $11.68 billion from last year.

Noninterest expense increased 2 percent to $16.3 billion from last year.

For more earnings news, earnings calendar, and earnings for stocks, visit
rttnews.com



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX