(Reuters) – Bank of America Corp <BAC.N> reported a 35 percent rise in quarterly profit on Monday as the second-largest U.S. lender benefited from tax cuts, while growth in lending helped it offset lower bond trading revenue.
Net income applicable to common shareholders rose to $6.7 billion, or 66 cents per share, in the third quarter ended Sept. 30 from $4.96 billion, or 46 cents per share, a year earlier.
Analysts on average were expecting the bank to earn 62 cents per share, according to I/B/E/S data from Refinitiv. It was not immediately clear if the numbers were comparable.
Non-interest expense fell 2.4 percent to $13.07 billion.
(Reporting by Siddharth Cavale in Bengaluru; Editing by Anil D’Silva)