Bank of America Misses Estimates but the Stock Rises on Upbeat Guidance

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Updated July 18, 2022 9:23 am ET / Original July 18, 2022 6:48 am ET

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Bank of America shares were rising Monday after the bank posted mixed second-quarter results but said net interest income could increase by as much as $1 billion in the next quarter.

Bank of America (ticker: BAC) reported earnings of $6.2 billion, or 73 cents a share, missing Wall Street forecasts. Analysts surveyed by FactSet expected the bank to earn 75 cents a share in the second quarter. A year earlier, Bank of America earned a profit of $1.03.

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