Bank of America profit quadruples to $2.6bn


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Financial Times
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Wednesday April 17 2013

Breaking News
 
Bank of America profit quadruples to $2.6bn
Bank of America's net income rose by almost 300 per cent to $2.6bn in the first quarter but the second-biggest US bank reported a decline in revenue at his consumer, mortgage and investment banking divisions.

Overall revenue rose 5 per cent to $23.7bn, helped by an improved trading performance. Net income rose from $653m to $2.6bn and earnings per share from 3 cents to 20 cents, below analysts' estimates of about 22 cents.
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