NEW YORK — Bank of America made $2 billion in the last three months of 2011, reversing a loss from a year earlier. It offset legal expenses over mortgages and losses in its investment banking business by selling debt and its stake in a Chinese bank.
The bank said Thursday that it made 15 cents per share in the fourth quarter. That fell short of the 22 cents expected by analysts surveyed by FactSet, a provider of financial data, but was in line with other estimates.
For the year, the bank made $1.4 billion. It lost $2.2 billion in 2010.
Among other quarterly reports:
B Morgan Stanley posted a fourth-quarter loss of $275 million Thursday, its first since early 2009, dragged down by the cost of a settlement over soured mortgage securities.
B
Internet search leader Google fetched less money than analysts expected.
The company earned $2.7 million, or $8.22 per share, in the fourth quarter. That’s just a 6 percent increase from $2.5 billion, or $7.81 per share, at the same time in 2010.
