Bank of America (BAC, Financial) shares rose 3% on Tuesday morning after posting stronger-than-expected first-quarter earnings, driven by higher revenue and a solid performance across its core businesses.

The lender reported adjusted earnings of $0.90 per share for the three months ended March 31, up from $0.83 a year earlier. That figure came in above the consensus forecast of $0.82 from analysts, with estimates ranging from $0.78 to $0.85.

Revenue increased nearly 6% year over year to $27.51 billion, outpacing expectations of $26.99 billion. Net income for the quarter came in at $6.99 billion.

The latest results come amid a tough macro backdrop for U.S. banks, with rising funding costs and slower loan growth continuing to weigh on the sector.