BofA Tops Estimates as Trading Beats and Lending Revenue Rises

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.

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.