Bank of America sees income, revenue decline in Q1

By Ovunc Kutlu

ISTANBUL (AA) - Bank of America saw income and revenue decline in the first quarter, according to a financial results statement released Tuesday.

The US-based multinational investment bank and financial services holding company posted a net income of $6.7 billion in the January - March period of this year, which was down 18.3% from $8.2 billion in the same period last year.

Total revenue fell 1.9% to $25.8 billion from $26.3 billion during the same period, according to the figures.

The bank's stock price was up around 1.5% to $36.50 in pre-market trading on the New York Stock Exchange, from the previous day's close of $35.95.