Bank of America Corporation today reported second-quarter 2008 net income of $3.41 billion, down from a record $5.76 billion a year earlier. Diluted earnings per share decreased 44 percent to $0.72 from $1.28 in the same period in 2007. Net revenue rose to a record $20.32 billion. Earnings available to common shareholders totaled $3.22 billion.
Net income in the period rose from $1.21 billion, or $0.23 per share, in the first quarter of 2008. Second-quarter net income included pretax merger and restructuring costs of $212 million.
