Bank Of America Corporation Announces Drop In Q3 Bottom Line, But Beats Estimates

(RTTNews) - Bank of America Corporation (BAC) reported a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $6.380 billion, or $0.81 per share. This compares with $7.720 billion, or $0.90 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.7% to $25.345 billion from $25.167 billion last year.

Bank of America Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $6.380 Bln. vs. $7.720 Bln. last year. -EPS (Q3): $0.81 vs. $0.90 last year. -Revenue (Q3): $25.345 Bln vs. $25.167 Bln last year.