Bank of America, Q3 profit down 15.8% due to pandemic

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Bank of America, Q3 profit down 15.8% due to pandemic


(Reuters) – Bank of America Corp reported a 15.8% decline in quarterly earnings, penalized by an increase in loan loss provisions due to the Covid-19 pandemic.


The Bank of America logo in the borough of Manhattan, New York


© Reuters / CARLO ALLEGRI
The Bank of America logo in the borough of Manhattan, New York


Net income attributable to ordinary shareholders fell to $ 4.44 billion, or 51 cents per share, in the third quarter ended September 30, from $ 5.27 billion, or 56 cents per share, a year earlier. .

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Analysts had expected earnings of 49 cents per share, according to Refinitiv’s IBES data. It is not immediately clear whether the estimates are comparable.

(Translated by Gdansk editorial team, Cristina Carlevaro editorial office in Milan)

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