Bank of America Corp reported a 10-per-cent increase in quarterly profit on Wednesday as a healthy U.S. economy boosted demand for loans.
Net income applicable to common shareholders rose to $7.11-billion, or 74 cents per share, in the second quarter ended June 30 from $6.47-billion, or 63 cents per share, a year earlier.
Revenue, net of interest expense, was up about 2 per cent at $23.08-billion.
Analysts had expected a profit of 71 cents per share and revenue of $23.2-billion, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable.