Bank of America (BAC) posted higher quarterly profit than analysts estimated as bond-trading revenue surged during the early months of Donald Trump’s presidency and investors sought to protect their wealth from turmoil in the European Union.
Profit of 41 cents a share compared with the 35-cent average estimate from analysts surveyed by Bloomberg. Net income climbed 40% to $4.9 billion in the three months through March, the Charlotte, N.C.-based lender said in a statement.
