BofA Stock Traders Notch Record Fueled by Momentum in Markets

Bank of America Corp.’s stock-trading desk set a record, riding a wave of volatility that helped push the bank’s earnings to the highest in nearly two decades.

Revenue from equity trading climbed 30% to $2.8 billion in the first quarter — beating expectations — while fixed-income trading, which fell short of a consensus of analyst estimates, rose less than 1% to $3.5 billion, the company said in a statement Wednesday. The bank also raised its full-year guidance for net interest income as expectations about Federal Reserve cuts have shifted, and assuming that loan and deposit growth continues.