Bank of America profit beats on boost from reserve release, lending

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegribeat estimates for third-quarter profit on Thursday, as it released reserves of $1.1 billion and recorded strong growth in its lending and equity-trading divisions.

Analysts on average had expected a profit of 71 cents per share, according to the IBES estimate from Refinitiv. Net interest income , a key measure of how much banks make from lending, rose nearly 10% to $11.09 billion.

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