Bank of America joined the fray with its second-quarter earnings this morning. Here are the highlights:
The nation’s second-largest bank earned $7.41 billion, up 19% from $6.25 billion a year earlier.
That amounts to 88 cents per share. Analysts expected 84 cents, according to FactSet.
Revenue rose 11% to $25.2 billion. Analysts expected $24.98 billion.
The bank added $256 million to its reserves to cover potential loan losses.
“We continue to see a healthy U.S. economy that is growing at a slower pace, with a resilient job market,” CEO Brian Moynihan said in a statement.