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Bank of America Shares Rise on Stronger-Than-Expected Results

Traders and retail customers drove the bank’s revenues and earnings higher in the first quarter, highlighting continued strength in consumer spending.
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Bank of America Shares Rise on Stronger-Than-Expected Results
A Bank of America logo in the Manhattan borough of New York City, in this file photo. Carlo Allegri/Reuters
Panos Mourdoukoutas
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News Analysis

Bank of America joined JPMorgan Chase & Co. and Goldman Sachs to report another great quarter. Revenues and earnings were led higher by robust trading and retail consumer banking income, helped by market volatility, lower interest rate expense, and a well-diversified business portfolio built over the past three decades.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”