Bank of America reports higher net income


Bank of America recorded $9.8 billion in pretax benefits from the sale of China Construction Bank shares and two accounting gains during the quarter. It also took a pretax loss of $2.2 billion related to private equity and “strategic investments.”Total revenue increased about 6 percent to $28.7 billion.Noninterest expense climbed about 4.7 percent to $17.6 billion.Its shares were down 3.3 percent at $5.83 in premarket trading.

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