Bank of America Reports Third-Quarter Profit of $6.9 Billion
Bank of America said third-quarter profit was $6.9 billion, or 91 cents a share, versus $8.3 billion, or $1.04 a share, a year earlier. FactSet-polled analysts expected $1.10 a share. The quarter included a $1.2 billion regulatory settlement charge.
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By WSJ StaffBank of America reported a lower profit, mostly tied to a regulatory settlement charge, while Morgan Stanley's overall profit and revenue climbed.On Tuesday, regulators announced a fine of $1.2 billion against Bank of America after finding that the bank had insufficient systems to monit…
04 a share, a year earlier. 10 a share. 2 billion regulatory settlement charge, which redu…