Bank of America shares rose Wednesday before the market opened even as the bank reported revenue results that missed analyst expectations. The bank reported fourth-quarter net income of $2.4 billion, down from $4.5 billion a year ago. Per-share earnings were 20 cents in the most recent quarter, down from 39 cents a year ago and missing the FactSet consensus of 45 cents. That included a 27-cent charge stemming from the tax package passed late in 2017. Total revenue came to $20.44 billion, an increase from the $19.99 billion booked a year ago but missing the FactSet consensus of $21.49 billion. Net interest income rose 11% to $11.5 billion, just shy of the FactSet consensus of $11.55 billion. Consumer banking revenue was $8.95 billion, vs. $8.11 billion a year ago. “Responsible growth delivered solid results in 2017,” said Brian Moynihan, the bank’s CEO, in a statement. Bank of America shares have gained 41.7% over the past 12 months, more than the 30.1% jump in the Dow Jones Industrial Average and most other big banks.
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