Bank Of America Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - Bank of America Corporation (BAC) reported fourth-quarter net income to shareholders of $3.18 billion, or $0.29 per share, compared to $367 million, or $0.03 per share in the year-ago period.

On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $0.26 for the quarter. Analyts' estimates typically exclude special items.

Total revenue, net of interest expense, on fully taxable-equivalent or FTE basis, was $21.70 billion, compared to $18.89 billion, prior year. Total revenue, net of interest expense, FTE basis, excluding DVA and FVO was $22.32 billion, compared to $19.61 billion, last year. Analysts expected revenue of $21.24 billion for the quarter.

Net interest income, on FTE basis was $11.00 billion, compared to $10.55 billion, a year ago. Noninterest income rose year-over-year to $10.70 billion, from $8.34 billion.