Bank of America Profit Rises on Trading
Bank of America's profit rose in the second quarter as its traders brought in more revenue from tumultuous markets in the second quarter, it said on Wednesday.
U.S.-listed shares of the company rose 1% in premarket trading.
Banks' trading desks benefited from market turbulence during the quarter as clients reacted to shifting U.S. trade policies and escalating geopolitical tensions.
BofA's sales and trading revenue jumped 15% to $5.4 billion in the quarter, the 13th consecutive quarter of year-over-year revenue growth.
The bank's shares, which have gained 5% this year, fell 1.4% in trading before the bell.
The bank's profit was $7.1 billion, or 89 cents per share, for the three months ended June 30, compared with $6.9 billion, or 83 cents per share, a year earlier.
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