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Bank of America joins Wall Street’s profit rout with 12% drop
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Bank of America reported a 12% drop in first-quarter profit on 18 April, marking the end to an underwhelming earnings season for the country’s largest banks.
Last week, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley reported double-digit declines in first-quarter earnings as well. All except Bank of America reported lower revenue.
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