Bank of America Corporation Bottom Line Declines In Q1, misses estimates

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

The company's bottom line came in at $6.14 billion, or $0.76 per share. This compares with $7.66 billion, or $0.94 per share, in last year's first 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 fell 1.7% to $25.82 billion from $26.26 billion last year.

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

-Earnings (Q1): $6.14 Bln. vs. $7.66 Bln. last year. -EPS (Q1): $0.76 vs. $0.94 last year. -Revenue (Q1): $25.82 Bln vs. $26.26 Bln last year.