Bank of America: Q2 Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Bank of America Corp. (BAC) on Monday reported second-quarter net income of $6.25 billion.
The bank, based in Charlotte, North Carolina, said it had earnings of 73 cents per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The nation’s second-largest bank posted revenue of $25.22 billion in the period. Its revenue net of interest expense was $22.69 billion, also missing Street forecasts. Eight analysts surveyed by Zacks expected $22.97 billion.
Bank of America shares have decreased 28% since the beginning of the year, while the S&P’s 500 index has decreased 19%. The stock has declined 15% in the last 12 months.