Bank of America beats estimates

Bank of America's first-quarter performance was anchored by a 30% surge in stock trading revenue as the war in Iran rattled global markets.

The lender also saw a significant increase in advisory fees from a renewed wave of mergers and acquisitions.

While fixed-income trading fell slightly short of estimates, the overall strength of the consumer and investment banking divisions provided a robust cushion.

CEO Brian Moynihan noted that the bank remains well-positioned to navigate a complex macroeconomic environment characterized by persistent inflation.