Bank of America Corp (BAC.N) reported a 10%
increase in quarterly profit on Wednesday as a healthy U.S. economy boosted
demand for loans.
Net income
applicable to common shareholders rose to $7.11 billion, or 74 cents per share,
in the second quarter ended June 30 from
$6.47 billion, or 63 cents per share,
a year earlier.
Revenue,
net of interest expense, was up about 2% at $23.08 billion.
Analysts
had expected a profit of 71 cents per share and revenue of $23.2 billion,
according to IBES data from Refinitiv, but it was not immediately clear if the
numbers were comparable.
- Reuters
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