Bank of America Executives Bullish After Profit Beat

Bank of America Executives Bullish After Profit Beat
A Bank of America logo in the Manhattan borough of New York, on Jan. 30, 2019. Carlo Allegri/Reuters
Reuters
Updated:

Bank of America Corp. provided a bullish outlook after reporting a smaller-than-expected 13 percent fall in first-quarter profit on Monday, as growth in consumer lending overshadowed a decline in global dealmaking.

Chief Executive Brian Moynihan said Bank of America customers had spent at the highest level ever recorded for the first quarter, representing a double-digit percentage increase from a year ago.