Bank of America(US:BAC) 智通财经网·2025-07-16 12:18Core Viewpoint - Bank of America (BAC.US) reported strong earnings, leading to a nearly 3% pre-market stock price increase, despite significant share reductions by Warren Buffett and the Kuwait Investment Authority [1][6]. Financial Performance - The bank's trading revenue for the second quarter reached a record $5.4 billion, a 14% year-over-year increase, driven by volatility in the stock market and a significant rebound in U.S. equities [1][3]. - Net interest income (NII) grew by 7.1% to $14.7 billion, surpassing analysts' expectations of a 6.5% increase [3][5]. - Overall net profit rose by 3.2% to $7.12 billion, exceeding the consensus forecast of $6.56 billion [3][4]. Trading and Market Activity - The bank's fixed income, currency, and commodities (FICC) trading revenue surged by 19% to $3.25 billion, while equity trading revenue increased by nearly 10% to $2.13 billion [1][3]. - The overall trading business has shown consistent growth for 13 consecutive quarters [1]. Investment Banking and Advisory Services - Investment banking revenue declined by 7% year-over-year, indicating a sluggish recovery in large transaction facilitation, although it performed better than analysts' expectations [4]. - Advisory fees for mergers and acquisitions fell by 11%, with revenues from equity and debt issuance down by 8.1% and 4.9%, respectively [4]. Shareholder Actions - The Kuwait Investment Authority sold $3.1 billion worth of shares in Bank of America, following a similar reduction by Berkshire Hathaway, which has decreased its stake below 10% [6][7]. - The stock sale occurred at a price of $47.95 per share, close to the historical peak for Bank of America [6]. Market Outlook - The bank's strong performance reflects the resilience of the U.S. economy and the anticipated easing of regulatory measures by the Federal Reserve, contributing to a bullish outlook for the financial sector [7].