$Bank of America Corp(BAC-N)$.'s stock $(BAC.SI)$ was up 1.3% in premarket trading on Tuesday after the megabank topped Wall Street's earnings and revenue targets as it marked its 12th straight quarter of growth in its sales and trading business.
Bank of America's first-quarter profit climbed about 10% to $7.4 billion, or 90 cents a share, from $6.7 billion, or 76 cents a share, in the year-ago quarter. The bank topped the FactSet consensus estimate of 82 cents a share.
First-quarter revenue rose 6% to $27.4 billion, ahead of the analyst estimate of $26.97 billion.
Sales and trading revenue rose 11% to $5.7 billion. Including net debit valuation gains, sales and trading revenue rose 9% for its 12th consecutive quarter of expansion.
-Steve Gelsi
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April 15, 2025 06:57 ET (10:57 GMT)
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