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Bank Of America Q1 Profit Drops 13%

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Bank of America Corp BAC reported net income of $2.7 billion or $0.21 a share for the first quarter representing 13 percent year-over-year drop. The results included $1.2 billion or $0.07 a share of unfavorable market-related NII adjustments and $0.9 billion or $0.05 a share in annual retirement-eligible incentive compensation costs. Last year, the company earned $0.25 a share in the first quarter.

Following the results...


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