Strong growth Bank of America

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Photo credit © Reuters

(Boursier.com) — Bank of America delivered a particularly strong performance in the third fiscal quarter, posting net income applicable to common shareholders of $ 7.26 billion and 85 cents per share over the period, up from $ 4.44 billion a year earlier. Reserve reversals of $ 1.1 billion greatly improved profits. The bank also recorded good performances in credit and equity trading operations. Revenue rose 12% to $ 22.8 billion. Net interest income improved 10% to $ 11.1 billion. The consensus was 71 cents in earnings per share for $ 21.7 billion in revenue.


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