Bank of America: Q4 Earnings Snapshot

CHARLOTTE, N.C. (AP) _ Bank of America Corp. (BAC) on Friday reported fourth-quarter earnings of $7.13 billion.

The Charlotte, North Carolina-based bank said it had earnings of 85 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The nation’s second-largest bank posted revenue of $34.93 billion in the period. Its revenue net of interest expense was $24.53 billion, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $24.08 billion.

Bank of America shares have climbed 4% since the beginning of the year, while the S&P’s 500 index has declined 16%. The stock has fallen 29% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAC at https://www.zacks.com/ap/BAC