CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Bank of America Corp. (BAC) on Tuesday reported second-quarter profit of $6.9 billion.
The Charlotte, North Carolina-based bank said it had earnings of 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The nation’s second-largest bank posted revenue of $48.53 billion in the period. Its revenue net of interest expense was $25.38 billion, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $25.19 billion.
Bank of America shares have increased 24% since the beginning of the year, while the S&P’s 500 index has increased 18%. The stock has increased 41% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAC at https://www.zacks.com/ap/BAC
