Bank of America Corporation Q4 Income Retreats, misses estimates

(RTTNews) - Bank of America Corporation (BAC) released a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $2.84 billion, or $0.35 per share. This compares with $6.90 billion, or $0.85 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.5% to $21.96 billion from $24.53 billion last year.

Bank of America Corporation earnings at a glance (GAAP) :

-Earnings (Q4): $2.84 Bln. vs. $6.90 Bln. last year. -EPS (Q4): $0.35 vs. $0.85 last year. -Analyst Estimates: $0.63 -Revenue (Q4): $21.96 Bln vs. $24.53 Bln last year.