Bank of America Corp., the No. 2 U.S. bank, on Wednesday said third-quarter profit rose a better-than-expected 10 percent, helped by surging credit card fees, investment gains and securities trading.
The Charlotte, N.C.-based company reported net income of $4.13 billion ($1.02 per diluted share), compared with $3.76 billion (91 cents) a year earlier. Excluding merger costs, profit totaled $1.04 per share. Revenue rose 16 percent to $14.81 billion. Analysts had expected the bank to earn $1.02 a share on revenue of $14.14 billion.
