Banking

Bank of America's Q4 Profits Beat Forecasts

By one penny a share

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Bank of America's fourth-quarter profit jumped as the nation's second-largest bank bounced back from a big legal settlement last year and beat analysts' profit forecasts by a penny per share.

Bank of America earned $3.4 billion, or 29 cents a share, up from $732 million, or 3 cents a share, in the last three months of 2012. Analysts had projected 28 cents a share in profit.

Revenue was $21.7 billion, up 15%, beating forecasts of $21.2 billion.

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