Yesterday, it reported second-quarter net income of $334 million on revenues of $9.29 billion.

The company's second-quarter net income was up 72 percent, to $16 million, from the corresponding quarter last year.

The 1992 second-quarter net income included $73 million in profit from gains on sales of assets.

Bank of America said its second-quarter net income jumped 23 percent - also exceeding analysts' expectations.

Merrill reported a second-quarter net income of $184.3 million, or $1.58 a share, on revenues of $3.1 billion.

This brought the second-quarter net income to $45.8 million, or $1.39 a share.

The company also said that second-quarter adjusted net income rose 53 percent, in line with lowered expectations.

The second-quarter net income compared with $12 million for the same period in 1986.

Eli Lilly said that second-quarter net income dropped 5 percent on costs for introducing new drugs.

Excluding special one-time events, Irving said its second-quarter income would have been $46.9 million, an increase of 12 percent over the first quarter.