Bank of America Corp.'s results offered up the best example yet of just how mixed a profit picture major banks faced in the second quarter.

The bank posted an 8% increase in profits to $2 billion and matched Wall Street estimates with earnings per share of $1.23. But the gains over a year ago were almost completely attributable to a charge in 1999's second quarter; and the estimate that B of A matched had been reduced in the days just prior to the profit announcement.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.