Bank of America Stock Slides Despite Smaller Than Expected Per-Share Loss — forbes.com

With a nearly $17 billion mortgage settlement with the Department of Justice on its books, Bank of America knew its third quarter earnings would take a hit — a 43-cent per-share hit, in fact. Wall Street analysts, too, forecast an earnings loss for the quarter, calling for the bank to post a 9-cent per-share loss for the quarter. And while Bank of America did fulfill predictions of a a per-share loss, the loss the company reported Wednesday morning was smaller than expected. However, due to a more-than $200 million dip in revenue compared to the year-ago period, shares of the bank are down in early Wednesday trading.

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