Bank of America delivered positive fourth quarter 2013 earnings built on the back of released reserves of $1.2 billion that was significantly higher than the $800-900mm quarterly release in 1H13. Bank of America reported earnings of $3.4 billion or $0.29 a share on revenue of $21.7 billion. Analysts expected earnings per share of $0.27. The bank earned a profit of $11.43 billion or $0.90 a share on revenue of 89.8 billion. The stock is up almost 3% in early trading as a result of the earnings announcement.

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