FX.co ★ Bank Of America Corporation Q2 Income Retreats, But Beats Estimates

Bank of America Corporation (BAC) reported a profit for the second quarter that, while lower than the same period last year, surpassed Wall Street estimates.

The company reported net income of $6.58 billion, or $0.83 per share, compared to $7.10 billion, or $0.88 per share, in the second quarter of the previous year.

According to data compiled by Thomson Reuters, analysts had anticipated earnings of $0.80 per share on average. These analysts' estimates typically exclude special items.

Revenue for the quarter increased by 0.7% to $25.38 billion, up from $25.20 billion in the prior year.

Bank of America Corporation's earnings summary (GAAP) is as follows:

- Earnings (Q2): $6.58 billion vs. $7.10 billion last year

- EPS (Q2): $0.83 vs. $0.88 last year

- Revenue (Q2): $25.38 billion vs. $25.20 billion last year