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Bank of America Posts Slide but Beats Q2 Expectations

41% drop in net earnings still better than forecast; shares rise 9.3% pre-market

By Jim O'Neill, Newser User

Posted Jul 21, 2008 7:33 AM CDT

(Newser) – Bank of America reported a 41% decrease in net income today, beating analyst expectations as writedowns shrank to $1.22 million in the second quarter from $2.81 billion a quarter earlier, reports the Wall Street Journal. The bank also said it expects to make... Read full story »

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Bank of America Posts Slide but Beats Q2 Expectations

41% drop in net earnings still better than forecast; shares rise 9.3% pre-market

Bank of America • earnings reports • Countrywide • subprime crisis • Kenneth Lewis

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More Newser Stories

Bank of America Posts 77% Dive on $6B in Writedowns

Writedowns pack bigger punch than analysts expected

Subprime Lender CEOs Defend Exec Pay

Merrill, Citi and Countrywide honchos cashed in as companies foundered

This Woman's Job: to Make You Like BofA

Anne Finucane juggles politicians, shareholders, and customers

BofA Pays $335M to Settle Claims Over Minority Loans

It's the largest fair-lending settlement in history

Perry Gave Huge Tax Grants to Subprime Lenders

Countrywide, WaMu got $35M as they upped risky loans

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