Bank of America Corp Marks Beginning of Secular Growth





Bank of America Corp Marks Beginning of Secular GrowthIn light of recently-reported quarterly results from peers and rivals like Citigroup Inc (NYSE:C) and JPMorgan Chase & Co. (NYSE:JPM), the prior quarter’s numbers from Bank of America Corp (NYSE:BAC) weren’t particularly surprising. Owners of BAC stock were also prepared to hear that the recent tax overhaul took a sizeable but one-time toll on the bottom line, even as it set the stage for major long-term growth. For its fourth fiscal quarter ending in December, Bank of America turned $20.4 billion worth of revenue into a profit of $2.4 billion, or 20 cents per share of BAC stock.


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