Bank of America reports $2.42 billion profit

Bank of America has joined other big banks this week in reporting a big second-quarter profit.

Bank of America's profit of $2.42 billion, or 33 cents per share, beat Wall Street forecasts. Analysts had expected the bank to earn 28 cents per share.

The company, like Goldman Sachs Group Inc. and JPMorgan Chase & Co., said it had a handsome profit from its …