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Brian Moynihan, CEO of Bank of America, leaves the U.S. Capitol after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on the issue of debanking on Thursday, February 13, 2025.
Tom Williams | Cq-roll Call, Inc. | Getty Images
Bank of America on Wednesday posted third-quarter results that exceeded analysts' expectations on stronger-than-expected investment banking revenue.
Here's what the company reported:
Earnings per share: $1.06 vs. 95 cents LSEG estimateRevenue: $28.24 billion vs. expected $27.5 billionThe second largest U.S. bank by assets said that profit rose 23% from a year earlier to $8.5 billion, or $1.06 per share. Revenue rose 10.8% to $28.24 billion.
Like its peers, Bank of America's Wall Street businesses helped fuel the quarter's results.
The company said investment banking fees surged 43% to $2 billion, about $380 million more than analysts surveyed by StreetAccount had expected.
Shares of the bank have climbed roughly 14% this year.
On Tuesday, JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo each posted earnings that topped analysts' expectations for earnings and revenue.
This story is developing. Please check back for updates.
