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UPDATE 1-Bank of America reports lower first-quarter profit
April 19, 2012 / 11:05 AM / 6 years ago

UPDATE 1-Bank of America reports lower first-quarter profit

* Q1 EPS 3 cents vs. 17 cents a year earlier

* Accounting charges lower earnings

April 19 (Reuters) - Bank of America Corp on Thursday reported a drop in first-quarter profits as the second-largest U.S. bank took accounting charges related to its debt.

Bank of America said net income was $653 million, or 3 cents a share, in the quarter, compared with $2.05 billion, or 17 cents per share, in the same period a year earlier.

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