Bank of America reports $3.4B in first-quarter profit

April 15, 2015 12:25 PM

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Bank of America reports $3.4B in first-quarter profit

Bank of America said Wednesday it made profit of $3.4 billion in the first three months of 2015, a reversal from the loss it reported a year ago when it posted much higher legal costs.

Its results of 27 cents a share missed Wall Street expectations for 29 cents. In the first quarter of 2014, the bank lost $276 million, or 5 cents per share.

Also read: Ruth's Hospitality tops 4Q profit forecasts

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