Bank of America shares drop nearly 2% as earnings, revenue shy of consensus


Bank of America Corp. shares fell 1.9% on Monday after the bank fell short of Wall Street’s profit estimate, but revenue matched the analyst view. Bank of America’s second-quarter profit fell by a third to $6.2 billion, or 73 cents a share, from $9.2 billion, or $1.03 a share, in the year-ago quarter. Revenue increased to $22.7 billion from $21.5 billion. Bank of America was expected to earn 75 cents a share on revenue of $22.7 billion, according to estimates compiled by FactSet. “We believe our earnings generation over the next 18 months will provide ample capital to support growth, pay dividends, buy back shares and…

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