A Bank of America sign is pictured in Encinitas, California January 14, 2014. Bank of America Corp, the No. 2 U.S. bank, reported a stronger-than-expected quarterly profit, driven by a steep fall in mortgage losses and provisions to cover bad loans. (Reuters)
Bank of America reported 2Q earnings per share of $0.74 on revenue of $23.1 billion. It is not known right away if the numbers are comparable. Analysts expected profit per share of $0.71 on revenue of $23.23 billion.
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The bank earned a profit of $0.64 per share during the same period a year ago on revenue of $22.76 billion.
“Our view of the economy reflects the activity by the one-in-two American households we serve, which points to a steadily growing economy,” said Chairman and CEO Brian Moynihan. “We see solid consumer activity across the board, with spending by Bank of America consumers up five percent this quarter over the second quarter of last year.”
In this year’s first-quarter, earnings per share came in at $0.70 on revenue of $23 billion.
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