Bank of America profit rises 7.3%

New York

Bank of America Corp, the second-biggest US lender by assets, said third-quarter profit rose 7.3 per cent, beating analysts' estimates, as revenue from fixed-income trading was better than predicted and expenses fell.

Net income climbed to US$4.96 billion, or 41 cents a share, from US$4.62 billion, or 38 cents, a year earlier, the Charlotte, North Carolina-based company said Monday in a statement. Adjusted earnings per share excluding accounting adjustments were 42 cents, beating the 33-cent average estimate of analysts surveyed by Bloomberg.