Bank of America sees income, revenue decline in Q1
Net income falls 18.3%, revenue off 1.9% annually
By Ovunc Kutlu
ISTANBUL (AA) - Bank of America saw income and revenue decline in the first quarter, according to a financial results statement released Tuesday.
The US-based multinational investment bank and financial services holding company posted a net income of $6.7 billion in the January - March period of this year, which was down 18.3% from $8.2 billion in the same period last year.
Total revenue fell 1.9% to $25.8 billion from $26.3 billion during the same period, according to the figures.
The bank's stock price was up around 1.5% to $36.50 in pre-market trading on the New York Stock Exchange, from the previous day's close of $35.95.
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