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Bank of America beat estimates but lose money after 6bn legal charge

CMC Markets

Bank of America beat Wall Street Q1 2014 earnings estimates with earnings per share of $0.35 and revenue of $22.8 billion. Net revenue loss of $276 million ($0.05 per diluted share) and took a $6 billion litigation expense hit (before tax) which will cost shareholders $0.40 per share after tax.