Bank Of America Corporation Q2 Income Retreats, But Beats Estimates

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

The company's bottom line came in at $6.58 billion, or $0.83 per share. This compares with $7.10 billion, or $0.88 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.80 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 $25.38 billion from $25.20 billion last year.

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

-Earnings (Q2): $6.58 Bln. vs. $7.10 Bln. last year. -EPS (Q2): $0.83 vs. $0.88 last year. -Revenue (Q2): $25.38 Bln vs. $25.20 Bln last year.