- NEWS Desk Global
BOFA PROFIT BEATS ESTIMATES ON INTEREST INCOME, DECADE HIGH TRADING REVENUE
Bank of America's (BAC.N) third quarter profits beat Wall Street estimates as it joined other big lenders in earning more on loan interest payments, while also benefiting from a better-than-expected performance in investment banking and trading.
The second largest U.S. lender said the national economy and consumer spending on travel and goods were slowing but remained resilient despite rising interest rates. The bank warned that the macroeconomic outlook was uncertain and corporations continue to hold back on deals.