India, April 15 -- Bank of America Corp. (BAC) reported Tuesday that net income applicable to common shareholders for the first quarter grew to $6.99 billion or $0.90 per share from $6.14 billion or $0.76 per share in the prior-year quarter.
On average, 16 analysts polled expected the company to report earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.
The provision for credit losses was $1.48 billion, compared to $1.32 billion last year.
Total revenue, net of interest expense, increased 6 percent to $27.37 billion from $25.82 billion in the prior-year quarter, driven by noninterest income growth across all segments and higher net interest income. Wall Street expected revenues of $26.91 bill...