Posted on 22/07/08
Bank of America profit beats estimates
Bank of America Corp. second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations. The U.S.'s second-largest bank by assets said yesterday its profit fell 41 per cent as losses in its struggling mortgage operations were offset by business in other parts of the company. Bank of America reported profit of $3.41-billion (U.S.), or 72 cents a share, on $20.
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