Bank of America profit rose 27 percent to $9.1bn as trading revenue hit $7.1bn
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Bank of America's second-quarter results were reported by Cris Tolomia at Quartz. Net income was $9.1bn, up 27 percent from $7.2bn a year earlier. Diluted earnings per share reached $1.21, from $0.90. Revenue rose 15 percent, to $31.6bn. Sales and trading revenue reached $7.1bn, up 33 percent, with equities up 70 percent to $3.6bn and fixed income, currencies and commodities up 9 percent to $3.5bn. Investment banking fees rose 50 percent, to $2.1bn. Net interest income rose 9 percent, to $16.0bn. All four segments grew. Consumer Banking earned $3.3bn, Global Wealth and Investment Management $1.4bn, Global Banking $2.0bn and Global Markets $2.6bn. The provision for credit losses fell to $1.4bn, from $1.6bn. The bank returned $8bn to shareholders in the quarter.
