Bank of America: Q2 Earnings Snapshot
The Charlotte, North Carolina-based company said it had earnings of 89 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The nation's second-largest bank posted revenue of $46.67 billion in the period. Its revenue net of interest expense was $26.46 billion, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $26.59 billion.
Bank of America shares have increased 5% since the beginning of the year, while the S&P's 500 index has climbed 6%. The stock has climbed 10% in the last 12 months.
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