Business
Bank of America Corp said its quarterly profit surged by nearly $3 billion, as revenue increased and mortgage losses plunged in the clearest sign yet the bank was shaking off the impact of the financial crisis. The second largest U.S. bank reported net income of $3.4 billion, or 29 cents per share, on revenues of $21.7 billion. Analysts had expected Bank of America to post a profit of 28 cents per share on revenues of $21.08 billion, according to FactSet.
Background:
Bank of America profit impresses Wall Street [CNN]
Bank of America shakes off financial crisis [Reuters]
Battle of the banks [WSJ]
