Bank of America earnings rise sharply

Brian Moynihan's giant bank posts a profit of $3.44 billion, higher than a year-earlier quarter that was marred by charges

Bank of America's fourth-quarter profit surged sharply, beating analyst estimates, as the banking giant bounced back from a year-ago weighed down by one-time charges, while also benefiting from stronger credit quality.

The bank logged large litigation expenses but benefited from a narrower loss in its consumer real estate division, which includes mortgage banking, even as mortgage originations slowed.

WSJ Logo
The Worst Performer in Billionaires’ Portfolios? Trophy Art.External link

The Worst Performer in Billionaires’ Portfolios? Trophy Art.