BofA Among Dow Gainers After 63% Profit Gain Beats Estimates
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Bank of America Corp. ranked among top gainers in the Dow Jones Industrial Average after second-quarter profit beat Wall Street estimates on the strength of cost-cutting and better credit.
Net income at the second-biggest U.S. lender climbed 63 percent to $4.01 billion, or 32 cents a share, from $2.46 billion, or 19 cents, a year earlier, the Charlotte, North Carolina-based firm said today in a statement. That exceeded almost every estimate from 28 analysts surveyed by Bloomberg, and the stock reached its best level in more than two years.