"Bank of America's (BAC) mobile banking customers surged 26% in Q3 from a year ago to 14 million, promising to reduce expenses and boost earnings further. Paying bills and checking balances anywhere via smartphones and tablets are convenient for consumers and businesses.
Because it replaces branches, tellers and ATMs,it can also cut costs per transaction for the bank, contributing to bottom-line growth.
BofA earned 20 cents per share in Q3 vs. a break-even quarter a year ago, exceeding Wall Street's target by 2 cents." Continue Reading