Sunday, July 25

Brian Moynihan

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Bank of America misses Q2 revenue forecasts-but smashes income estimates after slashing credit-loss provisions

Bank of America CEO Brian Moynihan. Photo by John Lamparski/Getty Images Bank of America reported second-quarter earnings on Wednesday. The banking group's revenue fell short of Wall Street's forecasts, but it beat on net income. Bank of America counts Warren Buffett's Berkshire Hathaway as its biggest shareholder. See more stories on Insider's business page. Bank of America reported second-quarter earnings on Wednesday. The banking group's revenue fell short of Wall Street's forecasts, but its net income blew past analysts' estimates.Here are the key numbers:Revenue: $21.5 billion versus Bloomberg consensus estimates of $21.8 billionNet income: $9.2 billion versus consensus estimates of $6.6 billionDiluted EPS: $1.03 versus consensus estimates of $1.03Bank of America, which coun...