Bank of america says its second-quarter profits soared, helped largely by cost-cutting. the results beat analysts' expectations. the bank earned $3.6 billion in the quarter after payments to preferred shareholders. that was up 70 percent from $2.1 billion a year ago. the bank benefited from lower litigation expenses, having already settled several high-profile lawsuits related to its mortgage unit earlier this year.
updated: 7/17/2013 7:28 AM
Bank of America's earnings soar 70 percent