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Bank of America reports third-quarter net income of $168 million.

The bank reported net income of $2.50 billion in the same period a year earlier.

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On a per-share basis, the bank said it lost 1 cent in the latest quarter. That compared with a profit of 20 cents a year earlier.

Bank of America posted revenue of $21.21 billion in the third quarter, down from $21.53 billion the year before.

Bank of America shares have increased 6% since the beginning of the year, while the Standard & Poor’s 500 index has increased roughly 2%. The stock has risen 15% in the last 12 months.

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Originally published on Advisor.ca

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