Bank of America Q1 earns rise, top expectations By Tomi Kilgore NEW YORK (CBS.MW) - Bank of America (BAC: news, chart, profile) reported first-quarter earnings of $2.68 billion, or $1.83 a share, up from $1.59 a share in the same period a year ago, amid growth in loan balances and average deposits, which led to increased net interest income, and a rise in card and investment and brokerage services income. Excluding a one-time charge related to a settlement of mutual fund issues, earnings were $1.99 a share. Analysts surveyed by Thomson First Call had been expecting earnings of $1.80 a share, on average. Net interest income rose 11 percent to $5.97 billion. The financial services giant's stock closed Tuesday down $1.47 at $80.50.
Delta Q1 loss narrows to $383 mln, below expectations By Emily Church LONDON (CBS.MW) -- Delta Air Lines (DAL: news, chart, profile) saw its net loss narrow in the March-ending quarter to $383 million, or $3.12 a share from a net loss of $466 million a year ago. The loss missed the average First Call mean estimate for a loss of $3.02 a share. Delta termed the quarterly loss "disappointing" and said "continued losses of this magnitude are unsustainable. Delta must regain sustained profitability so we can compete effectively." Operating revenues increased 4.3 percent and passenger unit revenues increased 0.6 percent. The airline's load factor, a measure of passengers to available seats, for the March 2004 quarter was 70.6 percent, a 1.7 point increase as compared to the March 2003 quarter.
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