Bank of America's Q2 Earnings Reflect an Important Milestone

Bank of America's Q2 Earnings Reflect an Important Milestone

Bank of America (NYSE: BAC) reported second-quarter earnings today that, despite the drop in its stock price following the news, prove again that the nation's second-biggest bank by assets has long since turned the corner on the financial crisis.

It earned $4.9 billion in the quarter, which was 11% higher than its earnings in the same period last year. The growth in Bank of America's earnings per share was even better. It earned $0.46 per share, up 12% compared to the year-ago quarter and comfortably above the consensus estimate of $0.43 per share.

The Bank of America Plaza in Dallas, Texas. Image source: Getty Images.

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Source: Fool.com