Bank of America's profits rise 6 percent, beats estimates
By : Wibbitz Top Stories
Published On: 2016-10-17
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Bank of America Corp, the second-largest U.S. bank by assets, reported its first profit increase in three quarters on Monday, foiling expectations for another drop, as bond trading surged and expenses fell. Third-quarter profits rose nearly 6 percent from a year earlier, helped by strong results in investment banking and trading as well as lower expenses. Revenue grew 3 percent to $21.64 billion, beating the $20.97 billion expected by analysts.
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