CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Bank of America Corp. (BAC) on Tuesday reported third-quarter profit of $6.9 billion.
The bank, based in Charlotte, North Carolina, said it had earnings of 81 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The nation's second-largest bank posted revenue of $48.87 billion in the period. Its revenue net of interest expense was $25.35 billion, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $25.29 billion.
Bank of America shares have risen 24% since the beginning of the year, while the S&P's 500 index has climbed 23%. The stock has increased 56% 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
