Bank of America Corp (BAC.N) reported a higher-than-expected jump in quarterly profit as trading surged and the lender earned more from underwriting debt and equity offerings and advising on deals.
Earnings per share rose to 41 cents a share, above analysts expectations of 35 cents.
BofA's total revenue rose about 7 percent to $22.45 billion in the three months ended March 31, handily beating the average analyst estimate of $21.61 billion.
Wall Street banks have been vitalized by increased market activity prompted by the so-called "Trump trade". Investors also changed their positions around the Federal Reserve's interest rate hikes, boosting trading revenue for big U.S. banks.
BofA also benefited from loan growth as customers borrowed more.
Source: Yahoo Finance
Junior Trader Stefan Panteleev
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