09:53 ET -- Bank of America is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. Bank of America said its second-quarter profit fell as higher interest rates continued to weigh on its lending businesses. The bank's net income was $6.9 billion in the quarter, down nearly 7% from $7.4 billion a year earlier. Total revenue rose 1% to $25.4 billion. Bank of America's net interest income, or difference between what the bank earns on loans and securities and what it pays depositors, fell 3% to $13.7 billion. The bank set aside $1.5 billion for credit losses during the second quarter, a slight increase from the first quarter. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)


(END) Dow Jones Newswires

07-16-24 1008ET