India, July 16 -- Bank of America Corp. (BAC) reported Wednesday that net income applicable to common shareholders for the second quarter grew to $6.83 billion or $0.89 per share from $6.58 billion or $0.83 per share in the prior-year quarter.
On average, 16 analysts polled expected the company to report earnings of $0.87 per share for the quarter. Analysts' estimates typically exclude special items.
The provision for credit losses was $1.59 billion, compared to $1.51 billion last year.
Total revenue, net of interest expense, increased 4 percent to $26.46 billion from $25.38 billion in the prior-year quarter, driven by higher net interest income (NII), sales and trading revenue and asset management fees, as well as lower investment banki...