Updates
** Shares of second-largest U.S. lender Bank of America BAC.N up 2.1% at $37.44 premarket
** BofA beats estimates for Q1 profit as interest income grew and volatile markets helped its stock traders rake in a record haul
** BofA's net interest income (NII) — difference between what it earns on loans and pays out on deposits — rises 3% to $14.4 bln in Q1, partially helped by lower deposit costs
** BofA's Q1 investment banking fees falls 3% to $1.5 bln
** Reports Q1 net income of $7.4 bln, or 90 cents per share, vs analysts' avg. est. of 82 cents per share - data compiled by LSEG
** As of last close, BAC is down ~16.6% YTD
(Reporting by Prakhar Srivastava in Bengaluru)
((Prakhar.srivastava2@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.