Bank of America Corp. (BAC) Earnings Release

Bank of America Corp. (BAC)

 Net income was $1.58 billion, or 15 cents a share, compared with a net loss of $1.57 billion, or 16 cents, in the year-earlier period.
 Total revenue reached $24.89 billion from $22.4 billion.

 A survey of analysts by FactSet Research produced a consensus estimate of 22 cents a share of profit on $23.74 billion of revenue.

 Within the total revenue, the revenue from interest on loans fell 14% to $10.7 billion. The provision for possible losses on bad loans fell 43% to $2.93 billion.

 The tier 1 capital ratio reached 9.86% from 8.6% a year earlier.

Source : Marketwatch


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