FrankRep
04-21-2008, 04:38 PM
Bank of America Profit Falls 77% on $6 Billion Bad Debt
Bloomberg
April 21
Bank of America Corp., the second- largest U.S. bank, said profit dropped for a third straight quarter as the company set aside $6.01 billion for bad loans.
First-quarter net income declined 77 percent to $1.21 billion from $5.26 billion a year earlier, the Charlotte, North Carolina-based bank said today in a statement. The results fell short of analysts' estimates and sent the bank's stock down 2.5 percent in New York trading.
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Full Story:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aaKDTHjFQDm4&refer=worldwide
Bloomberg
April 21
Bank of America Corp., the second- largest U.S. bank, said profit dropped for a third straight quarter as the company set aside $6.01 billion for bad loans.
First-quarter net income declined 77 percent to $1.21 billion from $5.26 billion a year earlier, the Charlotte, North Carolina-based bank said today in a statement. The results fell short of analysts' estimates and sent the bank's stock down 2.5 percent in New York trading.
...
Full Story:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aaKDTHjFQDm4&refer=worldwide