Bank of America Corporation Bottom Line Advances In Q1, Beats estimates

(RTTNews) - Bank of America Corporation (BAC) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $7.66 billion, or $0.94 per share. This compares with $6.60 billion, or $0.80 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.0% to $26.26 billion from $23.23 billion last year.

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

-Earnings (Q1): $7.66 Bln. vs. $6.60 Bln. last year. -EPS (Q1): $0.94 vs. $0.80 last year. -Analyst Estimate: $0.82 -Revenue (Q1): $26.26 Bln vs. $23.23 Bln last year.