Bank of America Revenue Rises on Consumer Strength, but Profit Declines 32%

Bank of America second-quarter profit fell 32%, but revenue rose on strong consumer spending and borrowing.

The second-largest U.S. bank earned $6.2 billion, down from $9.2 billion a year earlier. Per-share earnings of 73 cents missed the 75 cents that analysts polled by FactSet had expected.