• Bank of America, Goldman Keep Wall Street on a Roll

    4 monthes ago - By Fortune

    Bank of America
    bac
    and Goldman Sachs
    gs
    became the latest banks to report better-than-expected profits for the second quarter, despite mixed fortunes in their underlying businesses.
    Both reported a weak three months for trading, with Goldman saying revenue fell 17% from a year earlier and BoA saying its sales and trading revenue fell 9%.
    However, BoA in particular was lifted by consumer banking, its largest unit. As with JP Morgan Chase
    jpm
    on Friday, its revenue rose sharply as it was able to pass on to customers two interest rate increases by the Federal Reserve. Its net interest income...
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