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Bank of America Corporation Reports Drop In Q1 Income, but beats estimates

Bank of America Corporation (BAC) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $6.60 billion, or $0.80 per share. This compares with $7.56 billion, or $0.86 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.8% to $23.23 billion from $22.82 billion last year.

Bank of America Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $6.60 Bln. vs. $7.56 Bln. last year.
-EPS (Q1): $0.80 vs. $0.86 last year.
-Analyst Estimates: $0.74
-Revenue (Q1): $23.23 Bln vs. $22.82 Bln last year.

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