Bank of America Posts $1.2B Loss

NEW YORK ( TheStreet) -- Bank of America ( BAC) reported a fourth-quarter net loss of $1.2 billion, or 16 cents a share, compared with a year-earlier loss of $194 million, or 60 cents.

The current quarter includes a previously announced goodwill impairment charge of $2 billion in the bank's Home Loans and Insurance segment. A company statement said that excluding the goodwill impairment charge, Bank of America earned $756 million, or 4 cents a share.

Analysts surveyed by Thomson Reuters were looking for earnings of 14 cents share. Estimates varied widely, however, depending upon what numbers analysts were excluding or including in their models, according to Sandler O'Neill analyst Jeff Harte. In other words, there may be plenty of "noise" that may make it difficult to get an immediate picture of the strength of different businesses at the bank.

"Part of the trouble is whether you include the mortgage goodwill writedown, whether you include the GSE settlement. There's enough moving parts it's going to be tough to say did they meet or miss expectations because everyone's got kind of different expectations. The accounting treatment and the EPS number people are looking for are going to be different," Harte told TheStreet in an interview earlier this week.

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Stocks

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

Why Starbucks Latest Data Reveal Should Worry Investors

Why Starbucks Latest Data Reveal Should Worry Investors