BAC earnings per share of $1.21 exceed estimates by $0.09 on stronger net interest income and trading revenue.
Bank of America reported second-quarter GAAP earnings per share of $1.21, beating estimates by $0.09. Revenue climbed 19.4% year-over-year to $31.6 billion, surpassing expectations by $830 million.
The results reflected higher net interest income, sales and trading revenue, asset management fees, and investment banking activity. Revenue net of interest expense rose 15% to $31.6 billion, or $31.7 billion on a fully taxable-equivalent basis.
The bank’s performance highlights continued strength in consumer and institutional businesses amid rising interest rates and market activity.