By Pritam Biswas, Saeed Azhar and Niket Nishant
April 15, 2025 – 7:44 AM PDT
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(Reuters) – Bank of America (BAC.N) topped estimates on Tuesday for first-quarter profit as interest income grew and volatile markets helped its stock traders rake in a record haul, lifting its shares more than 4%.
As markets whipsawed around U.S. President Donald Trump’s tariff policies, the second-largest U.S. lender brought in 9% higher trading revenue, mirroring trends seen at rivals.
“There is a lot to potentially change given the uncertainty around the tariffs and the policies on the future path of the economy,” CEO Brian Moynihan told analysts on a call.
Equities trading jumped 17% to a record $2.2 billion, while fixed income, currencies and commodities trading revenue jumped 5% to $3.5 billion, propelling its markets revenue to the highest in more than a decade.
“These results were sustained by an economy growing at a moderate pace and the client concerns over trade policy and recent market turmoil,” Chief Financial Officer Alastair Borthwick said.
“Still, our research team at this point does not…
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