Bank of America reported fourth-quarter revenue, net of interest expense, of $28.4 billion, surpassing consensus forecasts by roughly $600 million. Net income rose to $7.6 billion, up 12% from $6.8 billion a year earlier, translating into diluted earnings per share of $0.98 versus the $0.95 analysts had projected. Provisions for credit losses were trimmed to $1.3 billion, while noninterest expenses increased by 4% year-over-year to $17.4 billion, reflecting elevated technology investments and litigation costs.

Revenue from sales and trading climbed 10% year-over-year to $4.5 billion, led by a 23% jump in equity trading revenue to $2.02 billion and a 2% rise in fixed income, currencies and commodities to $2.5 billion. Net interest income also exceeded expectations, contributing materially to the 7% year-over-year growth in overall revenue. Asset management fees and higher deposit balances provided additional tailwinds, underscoring the bank’s diversified revenue streams.

Management expressed confidence in sustained loan growth and margin expansion through 2026, citing resilient consumer spending and a stable rate environment. Full-year 2025 profit reached $30.5 billion, up 13% from the prior year, with per-share earnings of $3.81, a 19% increase. Despite the upbeat outlook, the stock declined more than 4% in intraday trading as investors digested more muted capital return projections for the year ahead.