Bank of America Corporation (NYSE:BAC) shares rose more than 3% on Tuesday following the company’s reported Q2 results, with both EPS of $0.73 and revenue of $22.7 billion coming in slightly below the Street estimates of $0.75 and $22.72 billion, respectively.
Net interest income was fractionally better than expected and investment banking fractionally worse. The most important aspect of the earnings call was that management guided that they expected net interest income to increase by at least $900 million, possibly $1 billion versus Q2, and grow again at a faster pace on a sequential basis in Q4.