Bond Trading Bank of America
Let us tell you that better bond trading than expected, Bank of America tops on higher interest rates
The numbers are: earnings per share of 81 cents versus the 77 cents estimates from analysts surveyed by Refinitiv.
Also revenue: $24.61 billion versus the $23.57 billion estimate.
Let us tell you that the shares of the bank rose 2.9% in premarket trading.
The BOA said on Monday that profit on gains and revenue in better-than-expected fixed-income trading and interest income topped expectations,
Hey said thanks to choppy markets and rising rates.
Bank of America, led by CEO Brian Moynihan, was considered one of the main beneficiaries of the Federal Reserve's rate-boosting campaign.
It is playing as lenders including Bank of America, JPMorgan Chase
and Wells Fargo are producing more revenue as rates increase,
Thereby allowing them to generate more profit from their core activities of taking deposits and taking loans.