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Bank of America Beats Analyst Estimates as Trading Jumps

Bank of America Corp., the second-largest U.S. lender, posted a first-quarter profit that was more than most analysts predicted amid a rebound in trading and better credit quality.

Profit excluding certain one-time items increased about 40 percent to $3.7 billion, or 31 cents a diluted share, from $2.6 billion, or 23 cents, a year earlier, based on data released in a statement today. That beat the average per-share estimate of 27 analysts surveyed by Bloomberg of 12 cents. Net income, which includes accounting charges, fell to $653 million, or 3 cents a share, from $2.05 billion, or 17 cents.