Bank of America Corporation (BAC) Stock: Earnings Miss Sparks Selloff as Expenses Outpace Revenue Growth

TLDR BAC stock closed at $51.39, down 4.76%, after a disappointing earnings report. Bank of America’s $1.2 billion regulatory charge cut earnings by $0.17 a share. Adjusted expenses rose 6.9%, outpacing revenue growth of approximately 3.2%. Bank of America’s adjusted efficiency ratio climbed to 62% from 60% last year. Net interest income increased 8%, but [...]

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