Bank of America Q3 Earnings Surge on Investment Banking Strength
Bank of America delivered a robust third-quarter performance, with profit jumping 23% to $8.5 billion as investment banking revenue soared 43%. Earnings per share of $1.06 handily beat analyst estimates of $0.95, while total revenue climbed 10.8% to $28.24 billion - exceeding forecasts.
The bank's results were buoyed by record net interest income of $15.39 billion, up 9% year-over-year, alongside strong showings in consumer banking and global markets. Shares ROSE 2.52% to close at $50.09, with pre-market trading pushing the stock to $52.29 as investors rewarded the better-than-expected results.
This performance underscores the resilience of major financial institutions amid evolving market conditions, with Bank of America's diversified business model driving growth across segments. The investment banking surge particularly stands out, reflecting renewed activity in capital markets and advisory services.
