Bank of America (BAC) Tops Q2 Views
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Bank of America (NYSE: BAC) reports Q2 EPS of $0.72 versus the consensus of $0.53. Revenues came in at $20.32 billion, versus the consensus of $18.37 bilion.
Provision expense rose US$4.02 billion from a year ago to US$5.83 billion, reflecting net charge-offs of US$3.62 billion and additions to the allowance for loan and lease losses of US$2.21 billion.
CEO Lewis said, "Outside of real estate-related products, our operating results were quite good virtually across all business segments. This performance demonstrates not only the advantages of our company's diversity and scale, but also the ability of our associates to differentiate Bank of America in the eyes of customers and clients."
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