NEW YORK — Bank of America said today its second-quarter net income rose 15 percent to $2.78 billion as improvements in the company's consumer loan businesses made up for a drop in trading revenue.

The bank's results beat expectations and provided further evidence losses from failed loans at the nation's big banks might have peaked in the first half of 2010. Bank of America said its reserves to cover losses from loans fell 17 percent from the first quarter of this year and 39 percent from a year ago. JPMorgan Chase & Co. on Thursday also reported improvements in its consumer loan business.

NEW YORK — Mattel's second-quarter net income more than doubled, boosted by sales of Barbie and toys tied into the Pixar smash "Toy Story 3," the toymaker said today.The maker of Barbie and Hot Wheels said net income rose to $51.6 million, or 14 cents per share, from $21.5 million, or 6 cents per share last year. That just missed analyst expectations for net income of 15 cents per share, according to a poll by Thomson Reuters.Mattel's revenue rose 13 percent to $1.02 billion, matching analyst expectations. A year ago revenue was $898.2 million.

FAIRFIELD, Conn. — General Electric posted its first quarterly profit gain since late 2007, helped by cost cuts and improvements at its beleaguered financing business.The results from one of the world's largest industrial and financial companies suggest the economic recovery might still have steam, even as other indicators show a slowdown in growth. GE is trying to right itself after the recession and financial crisis punished its profits over the past two years.Revenue fell 4 percent, in part because GE is shrinking the size of GE Capital, its financial arm. GE also was able to cut costs by nearly $3 billion.GE said orders are improving in its industrial units that make everything from jet engines to power plant equipment. GE Capital, which makes loans ranging from credit cards to office buildings financing, posted a 93 percent gain in profits to $830 million. It was bolstered by lower losses.

SAN FRANCISCO — Google is doing its part to stimulate the economy and hurting its stock in the process.With its payroll swelling at the fastest rate in four years, some of Google's expenses are climbing faster than its revenue.That's creating a drag on its earnings, which is pulling down the Internet search leader's stock price.Consider Google's second-quarter results released late Thursday. Both net income and revenue rose 24 percent from the previous year, but that didn't impress investors because the earnings missed the target set by analysts.Google shares dropped $23.32, or 4.7 percent, in Friday premarket trading. The stock had closed Thursday at $494.02 and declined in extended trading.