By Linda Young

New York, NY

Bank of America reported third quarter profits of $6.2 billion profit on revenues that rose by 6 percent compared to the same period a year earlier.

Revenues were $28.7 billion.

The bank said its profits were partially from a one time accounting adjustment of $4.5 billion on structured liabilities and the sale of assets, specifically the sale of shares of China Construction Bank valued at $3.6 billion.

News of Bank of America's profits caused a boost in the stock market.

 

Investing - Bank of America Reports $6.2B in Profits | Bank of America

 

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