BofA Profit Jumps 9.4% on Fixed-Income Gain, Beats Estimates

  • Fixed-income revenue climbs 20% on rates, credit products
  • Expenses decline 2% to $13.9 billion, matching some estimates

Morgan Stanley, BofA Results: Costs Boost Profits

Bank of America Corp., the second-biggest U.S. lender, said profit rose 9.4 percent as fixed-income trading revenue climbed more than the company predicted as recently as last month and expenses shrank.

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