CHARLOTTE, NC — Bank of America reported Tuesday a second-quarter net loss of $8.8 billion, or 90 cents a share, against a year-earlier profit of $3.1 billion, or 27 cents a share.

Excluding mortgage-related items, the Charlotte, N.C.-based bank said that its adjusted net income was $3.7 billion, or 33 cents a share.

A survey of analysts by FactSet Research produced a consensus estimate for the quarter of a loss of 85 cents.

The BOA said the results reflected its efforts to resolve nearly all of the legacy repurchase exposure of Countrywide as well as other mortgage-related costs.

Credit costs dropped, sales and trading revenue improved and fees from asset management and investment banking climbed, the firm said.

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