Bank of America Posts Lower Profit

Bank of America Posts Lower Profit

Bank of America's fourth-quarter profit fell while revenue also declined.

The bank reported a profit of $3.05 billion, or 25 cents a share. One-time items lowered earnings by seven cents a share. Analysts polled by Thomson Reuters had expected per-share earnings of 31 cents.

Revenue fell to $18.96 billion. Analysts had expected $20.94 billion

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