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Bank of America reports largest-ever Q1 profit -- near $7B
LopDude
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User ID: kaput
04-17-2018 08:59 AM

Posts: 8,286



Post: #1
Bank of America reports largest-ever Q1 profit -- near $7B
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April 16 (UPI) -- Bank of America on Monday reported a $6.9 billion profit for the first three months of 2018 -- the greatest quarterly net in its history, officials said.

"Strong client activity, coupled with a growing global economy and solid U.S. consumer activity, led to record quarterly earnings," said Chief Executive Officer Brian Moynihan in Monday's release.

The record earnings resulted partly due to President Donald Trump's tax reform.

The bank said its net income was up 30 percent, to a record $6.9 billion -- but the income tax expense was about $1.5 billion, down 26 percent from last year.

https://www.upi.com/Top_News/US/2018/04/...m_medium=9

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