Bank of America posted second-quarter net income of $9.1 billion, a 27% increase from a year earlier, driven by broad-based revenue growth and operating leverage across all business segments. Revenue rose 15% to $31.6 billion, with net interest income up 9% to $16.2 billion and noninterest income surging 22% to $15.6 billion. Investment banking fees jumped 50% to $2.1 billion, while sales and trading revenue climbed 33% to $7.2 billion, marking the 17th consecutive quarter of year-over-year growth. The company returned $8.0 billion to shareholders through $2.0 billion in dividends and $6.0 billion in share repurchases, and management now expects full-year net interest income growth at the upper end of its 6% to 8% range. Bank of America also reported 300 approved AI use cases, including 114 live generative AI cases supporting over 400,000 prompts per day.
Bank of America CorpNet income jumped 27% to $9.1B, revenue up 15%, investment banking fees up 50%, and strong capital returns.