Net loss applicable to common shareholders for the quarter were $1.5bn or $0.16 per share, compared to a loss of $5.2bn or $0.60 per share in last year period.
Net loss in the fourth quarter of 2010 included the goodwill impairment charge of $2bn in the Home Loans and Insurance segment. Excluding the goodwill impairment charge, the company earned $756m, or $ 0.04 per share.
Net income applicable to common shareholders, excluding goodwill impairment charges were $435m or $0.04 per share, compared to a loss of $5.2bn or $0.60 per share in last year period.
Total revenue, net of interest expense, FTE basis for the quarter totaled $22.6bn, compared to $25.4bn in the same period a year ago.
Bank of America president and CEO Brian Moynihan said the bank earned $10.2bn before goodwill impairment charges, rebuilt its capital positions, reduced the risk on its balance sheet, and shed more than $19bn in assets that didn’t directly serve customers and clients.
