Bank of America Profits Pop on Trading Revenue and Higher Interest Rates

Bank of America reported a 44% rise in quarterly profit as higher interest rates bulked up earnings from loans and an increase in trading boosted revenue.

The second-largest U.S. bank said net income attributable to shareholders rose to $4.35 billion in the three months ended March 31 from $3.02 billion a year earlier.

Earnings per share rose to 41 cents per share from 28 per share.

Analysts on average had expected earnings of 35 cents per share, according to Thomson Reuters I/B/E/S. It was...

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