Bank of America saw revenue from equity trading rise 23% to $2.02 billion and net interest income topped analysts' estimates as traders posted a strong fourth quarter. Dani Burger reports on Bloomberg Television.

Bank of America reported strong financial results for the latest quarter, achieving a record net interest income of $15.75 billion, surpassing both analyst estimates and previous guidance. The bank also exceeded expectations in investment banking and trading revenues, with trading revenue reaching $4.5 billion.

CEO Brian Moynihan expressed continued optimism about the US economy and consumer resilience, projecting further economic growth into 2026. While compensation expenses were higher and debt underwriting missed estimates, the bank did not provide updates on the outlook for credit cards with a 10% cap, which remains a topic for future discussions.

Bank of America tops estimates on equity trading boost

The numbers look good. Let's start with net interest income. This is not only a beat for the fourth quarter, but it now represents a new record for net interest income for a quarter coming from Bank of America. That figure is $15.75 billion. The estimate was for $15.48 billion. I should also note that's above the guide that Brian Moynihan gave just one month ago. So he primed this market for surprise to the upside. The good news also for Bank of America is that their investment banking fees also outperformed. We will call yesterday that JPMorgan had a miss when it came to their saying that some of the deals were extended into 2026. That does not appear to be an issue for Bank of America. Investment banking revenue coming in at $1.67 billion. The estimate was for just under that amount. I should point out that their debt underwriting did miss, but their trading revenue, that is a beat. $4.5 billion, $4.33 billion was the estimate. Compensation expenses, those are a little bit higher, but maybe the market can overlook that for now. We'll see how that plays out. This is also a Brian Moynihan, which again, just a month ago had been very bullish on the US consumer, considering Bank of America's exposure. This is also important to call out. He continues that bullishness writing in this release with consumers and businesses proving resilient as well as the regulatory environment and tax and trade policies coming into sharper focus. We expect further economic growth into the year while any number of risks continue. We're a bullish in the US economy in 2026. No comments as of yet in this release about what the credit card look ahead is with that 10% cap. But again, just given Bank of America's exposure, they will be closely listening to both the media and analysts call whether Brian Moynihan and the team of Bank of America get into that.

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Sikhio District

At least 30 people killed in Thailand train derailment

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Tehran

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Ottawa

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Iran official says 2,000 killed in nationwide unrest

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Washington

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Vero

Ex-Corsican nationalist leader Alain Orsoni killed at mother's funeral

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London

UK investigating Musk's X over Grok's AI-generated images

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Iranian leaders mobilise supporters as U.S. weighs intervention

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Minnesota

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Mexico City

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Trump says nations trading with Iran will face 25% U.S. tariffs

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Iran FM Araghchi warns ready for war if U.S. wants to ‘test’ it

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Malaysia and Indonesia block Musk’s Grok over sexualized AI images

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New Delhi

Germany's Merz makes first official visit to India

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Los Angeles

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Minneapolis

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Las Vegas

Rise of AI

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Victoria

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Protests in Iran defy government crackdown

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