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BofA Shares Drop as Bank Sees Interest Income Growth Fading

  • Net interest income likely to climb at half 2018’s rate: CFO
  • Trading revenue falls 13% but still tops analysts’ estimates
Bloomberg business news
Jeff Harte of Sandler O’Neill and Bloomberg Intelligence’s Alison Williams report on Bank of America earnings.Daybreak: Americas." (Source: Bloomberg)
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Bank of America Corp. dropped after it said the interest-rate boost that lifted first-quarter earnings is likely to fade over the rest of this year.

Net interest income will probably increase 3 percent for 2019, down from 6 percent last year and 5 percent in the first quarter, Chief Financial Officer Paul Donofrio said in a call with investors Tuesday. That may mean slowing growth for a consumer unit that drove profit to a record in the first three months of the year.