Bank of America announced that it produced in the second quarter a profit of 2,5 billion dollars, equal to 0,19 US cents per share. The consensus was 0,14 cents a share. Revenues increased by $22 billion. Analysts had expected $22,86 billion.
Spending decreased year-over-year from $22,9 billion to $17 billion. Provisions for loan losses decreased from $2011 billion to $3,26 billion compared to the second quarter of 1,77.
The US bank had closed the second quarter of 2011 in the red by 8,8 billion dollars after paying 8,5 billion dollars to settle legal disputes related to mortgages sold by subsidiary Countrywide Financial.
