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 NEW YORK (AP) - Merrill Lynch & Co. Inc. managed to avoid the earnings troubles of its competitors and peers in the second quarter, posting a 6 percent profit gain despite a sluggish bond market that sabotaged results at other Wall Street firms.
Merrill Lynch said Tuesday it earned $1.14 billion, or $1.14 per share, compared with $1.07 billion, or $1.05 per share, in the second quarter of 2004. Revenues rose 20.3 percent to $6.32 billion from $5.25 billion last year.
Analysts surveyed by Thomson Financial expected earnings of $1.08 per share on revenues of $5.76 billion.
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