BofA tops estimates as lending revenue rises, trading beats

BANK OF AMERICA Corp.’s equity traders posted their best fourth quarter ever as the company reaped the benefits of volatile markets and net interest income topped analysts’ estimates.

- KATHERINE DOHERTY

Revenue from equity trading rose 23% to $2.02 billion in the final three months of the year, according to a statement Wednesday. Analysts had been expecting equity-markets revenue of close to $1.9 billion. That helped give Bank of America earnings of 98 cents a share, topping analysts’ estimates. Still, shares declined amid concerns about expenses.