CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Bank of America Corp. (BAC) on Wednesday reported fourth-quarter net income of $7.65 billion.
The Charlotte, North Carolina-based company said it had earnings of 98 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The nation’s second-largest bank posted revenue net of interest expense of $28.37 billion, which also topped Street forecasts. Six analysts surveyed by Zacks expected $27.49 billion.
Bank of America shares have dropped roughly 1% since the beginning of the year, while the S&P’s 500 index has climbed nearly 2%. The stock has climbed 21% in the last 12 months.
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Elements of this story were 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
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