Tuesday November 24, 2020

Bank of American earnings beat forecasts

Bank of America, the second-largest bank in the US, said its first-quarter profit rose amid a rebound in trading and better credit quality.

19th April, 2012
2
Bank of America corporate centre, North Carolina

Bank of America, the second-largest bank in the US, said its first-quarter profit rose amid a rebound in trading and better credit quality.

Profit excluding certain one-time items increased about 40 percent to $3.7 billion, or 31 cents a diluted share, from $2.6 billion, or 23 cents, a year earlier, based on data released in a statement today.

That beat the average per-share estimate of 27 analysts surveyed by Bloomberg of 12 cents.

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