BofA Profit Beats Analysts’ Estimates as Expenses Decline

April 15, 2015 11:46 AM

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Bank of America Corp., the second-biggest U.S. lender by assets, posted a $3.36 billion first-quarter profit that beat analysts’ estimates, as legal costs tumbled.

Net income was 27 cents a share, compared with a loss of $276 million, or 5 cents, a year earlier, according to a statement Wednesday from the Charlotte, North Carolina-based firm. Adjusted earnings were 36 cents a share, surpassing the 29-cent average estimate of 31 analysts surveyed by Bloomberg.

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