BofA Falls After Revenue Growth Seen Elusive, Oil Loans Sour
- Revenue growth will be `challenging,' CFO Paul Donofrio says
- Fourth-quarter net income climbs $9.4%, beating estimates
Big Banks Boost Profits by Cutting Costs
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Bank of America Corp. was among the worst performing U.S. lenders after saying it will struggle to increase revenue and reported expense cuts that at least one analyst said didn’t go far enough.
The shares slid 1.8 percent to $14.20 at 1:58 p.m. in New York, the second most in the 24-company KBW Bank Index. The stock has fallen 16 percent in 2016, the weakest start to a year since the financial crisis.