Bank of America (BAC) said on Wednesday that profits leaped 17% from a year ago.
The country’s second-largest bank reported profits rose to $8.6 billion, or $1.11 per share, exceeding the $1.01 per share that analysts forecast. Net revenue rose 7% to $30.3 billion compared to $28.2 billion in the first quarter of 2025.
Investment banking and trading revenue rose 21% and 13%, respectively.
Bank of America CEO Brian Moynihan said in a statement that, during the first quarter, his bank “saw healthy client activity, including solid consumer spending and stable asset quality, indicating a resilient American economy.”
“We remain watchful of evolving risks,” Moynihan added.
Bank of America stock rose about 1% ahead of Wednesday’s open.
The Charlotte-based bank’s results underscore how the country’s biggest financial institutions are seeing earnings growth amid significant Wall Street activity and a sturdy US economy, despite the volatile tone in markets.
Trading desks at big banks often do benefit from volatility though chaotic markets can just as easily spook clients, particularly in dealmaking. At Bank of America revenue from both Wall Street divisions ratcheted higher in the quarter.
Total sale and trading revenue rose to $6.4 billion, driven by a 30% year over year increase in revenue from its stock trading operations. However, the bank’s fixed income trading unit did fall short of Wall Street’s estimates, rising slightly from the year ago quarter.
