$Bank of America Corp(BAC-N)$.'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
For more from MarketWatch: http://www.marketwatch.com/newsviewer
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 15, 2025 06:57 ET (10:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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.