Investing.com - Bank of America (NYSE:BAC), the second largest U.S. bank, reported better than expected second quarter earnings and revenue ahead of Wednesday’s opening bell, sending its shares higher in pre-market trade.
Bank of America said it earned 45 cents per share in the three months ending June 30, above forecasts for earnings per share of 29 cents and up from 19 cents a share a year ago.
The bank’s second quarter revenue totaled $22.35 billion, missing estimates for revenue of $21.38 billion and improving from sales of $21.96 billion in the same period a year earlier.
Following the release of the report, shares in BAC rose 2.89% in pre-market trade to trade at $17.61 from Tuesday's closing price of $17.11.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures pointed to a gain of 0.1%, the S&P 500 futures tacked on 0.1%, while the Nasdaq 100 futures advanced 0.2%.