Bank of America Corp., the second- largest U.S. lender, said third-quarter profit dropped 95 percent on litigation expenses and an accounting charge tied to the firm’s debt.
Net income fell to $340 million, or 0 cents a diluted share, from $6.2 billion, or 56 cents, a year earlier, according to a statement today from the Charlotte, North Carolina-based firm. Analysts surveyed by Bloomberg were predicting a loss for the quarter. The shares were little changed in early trading.
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