Bank of America Posts Surge in Trading Revenue

Bank of America (BAC) - Get Report posted a double-digit increase in fourth-quarter trading revenue on the heels of market volatility sparked by Donald Trump's presidential victory in November. Trading revenue rose 11% year over year to $2.91 billion.

Fourth-quarter results were mixed, however. The bank topped estimates on the bottom line, but missed revenue expectations. Expenses for the quarter fell 6.1% year over year, a trend Michael Ingram, a market analyst with BGC Partners based in London, expects to continue.