From Yahoo Finance: 2025-04-15 07:20:00

Bank of America reported a rise in profits and revenue in the first quarter, attributed to robust trading results from market volatility caused by Trump’s tariffs. Total sales and trading revenue increased by 9% to $5.66 billion, with equities trading revenue reaching its highest ever at $2.2 billion.

CEO Brian Moynihan noted strong performance from business clients and resilient consumer spending, but warned of a potentially changing economy ahead due to uncertainties surrounding Trump’s tariffs. Total profits for Bank of America were $7.4 billion, exceeding analysts’ expectations and leading to a rise in stock value in pre-market trading.

While trading revenue increased, investment banking fees dropped at Bank of America as companies grew cautious about new deals amidst trade policy uncertainties under Trump. The bank’s net interest income was $14.6 billion, meeting predictions, but it set aside $1.48 billion in credit provisions for potential future losses, indicating expectations of worsening credit conditions.



Read more at Yahoo Finance: BofA’s Moynihan says ‘we potentially face a changing economy’ after stock traders post record haul