Bank of America reported $9.1 billion in second-quarter net income. This figure represents a 27% increase over the previous year. Diluted earnings per share rose 34% to $1.21. Total revenue climbed 15% to $31.6 billion, surpassing analyst expectations.
Investment banking fees surged 50% during the quarter. The Global Markets division grew its net income by 72%. Equities trading revenue reached a record high with a 70% increase. Every business segment achieved double-digit net income growth.
The bank returned $8 billion to shareholders through dividends and share buybacks.