A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photothird-quarter profits beat Wall Street estimates as it joined other big lenders in earning more on loan interest payments, while also benefiting from a better-than-expected performance in investment banking and trading.
BofA profits climbed 10% to $7.8 billion, or 90 cents per share, beating analysts' expectations of 82 cents, according to IBES data from LSEG. The bank still has a good deals pipeline, but corporate America is seeking more certainty over the macroeconomic outlook and it is difficult to say when investment banking activity will bounce back, Borthwick said.Headcount was expected to be flat from third-quarter levels. That has allowed the bank to keep down expenses, which are expected to decline by another $200 million in the fourth quarter to $15.6 billion.Three U.S.