Bank of America revenue rises
Bank of America Corp on Friday reported second-quarter results.
Higlights: * Earns $3.2 billion in second quarter
* Q2 earnings per share $0.33 including items
* Q2 revenue rose 60 percent to $33.1 billion
* Says extends more than $211 billion in credit in the second quarter
* Says enhanced capital strength, tier 1 capital ratio at 11.93 percent
* Says adds $4.7 billion to credit loss reserves
* Says the Merrill Lynch integration is on track and meeting expected goals
* Says the countrywide transition and related cost savings are on track
* Qtrly provision for credit losses was $13.4 billion, flat with the first
quarter
* Says total shareholders' equity was $255.2 billion at June 30
* Sees to achieve in excess of 40 percent of previously announced goal of about
$7 billion cost savings in 2009
* Says non-performing assets were $31.0 billion compared with $25.6 billion at
March 31, 2009
* Reuters Estimates Q2 earnings per share view $0.29, revenue view $33,261.65
million * Qtrly global wealth and investment management net income fell 24 percent
* Quarterly global wealth and investment management net revenue increased to $4.2
billion
* Says tangible common equity ratio was 4.67 percent, up from 3.13 percent at
March 31, 2009 * Says during the quarter, Bank of America issued 1.25 billion, or $13.5
billion, of common shares
* Says provision expense increased to $7.7 billion from a year earlier
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