Bank Of America Q1 Profit Climbs, Tops View; Plans $25 Bln Stock Repurchase
CHARLOTTE (dpa-AFX) - Bank of America Corp. (BAC) reported Thursday significantly higher first-quarter net profit of $7.56 billion or $0.86 per share from last year s $3.54 billion, or $0.40 per share.
Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
Provision for credit losses decreased $6.6 billion to a benefit of $1.9 billion, reflecting a reserve release of $2.7 billion amid an improved macroeconomic outlook and balance declines. The last year s provision for credit losses were $4.8 billion.
The company s revenue for the quarter rose 0.2 percent to $22.82 billion from $22.77 billion last year. Analysts were looking for revenues of $22.13 billion.
The Berkshire Eagle reports more than 400 residences in the Berkshires remained without electricity Tuesday morning after strong wind gusts knocked down tree limbs and damaged power lines around the county.
SSUET to help produce prosthetic limbs at low cost
Karachi
February 28, 2021
The Sir Syed University of Engineering & Technology (SSUET) has joined hands with the Healthcare and Social Welfare Association (HASWA) for producing prosthetic limbs at a low cost.
The university is to provide technical and strategic support for the production of automatic limbs of high quality with lower cost. In this regard, the SSUET held a session to demonstrate the automatic prosthetic limb developed in collaboration with HASWA.
Addressing the session, SSUET Chancellor Jawaid Anwar said it was a sad experience to see a person with no limbs. However, prosthetic limbs might help that person a lot to restore his confidence and make him become independent, he added.