BAC Bank of America Corporation

By Christina Rexrode and Peter Rudegeair 

Bank of America Corp. said its fourth-quarter profit rose as its trading desk benefited from the uncertainty caused by Donald Trump's surprise election.

Quarterly profit at the Charlotte, N.C.-based bank was $4.7 billion, from $3.28 billion a year earlier. Per-share earnings were 40 cents. Analysts had expected 38 cents a share.

Revenue was $19.99 billion, from $19.58 billion a year ago. Analysts had expected $20.85 billion.

Brian Moynihan, who this month marked his seven-year anniversary as CEO, is enjoying a period of relative calm after years of heavy loan losses and debilitating legal fees. Now, Mr. Moynihan is working on improving shareholder returns. The bank's shares have shot up by a third since Mr. Trump's election, more than the rally across broader bank stocks.

Shares fell 0.5% in premarket trading.

Write to Christina Rexrode at christina.rexrode@wsj.com and Peter Rudegeair at Peter.Rudegeair@wsj.com

(END) Dow Jones Newswires

January 13, 2017 07:04 ET (12:04 GMT)

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