Bank of America exceeds expectations in third-quarter earnings

Bank of America Corp. (NYSE: BAC) reported its 15th consecutive quarter of positive operating leverage Monday morning, when the Charlotte-based bank released its third-quarter earnings report. BofA posted $7.2 billion in net income, or 66 cents per share, in the third quarter, reflecting a 32% year-over-year increase. Revenue came in at $22.8 billion. Executives attribute the bank's success in the third quarter to asset quality and the benefits of tax reform, which slashed corporate tax rates to…

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