Bank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income.

Here’s what the company reported:

• Earnings: 82 cents vs. 77 cents expected, according to LSEG
• Revenue: $25.5 billion vs. $25.19 billion expected

The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents per share, from a year earlier, when the bank had a $2.1 billion Federal Deposit Insurance Corp. assessment tied to the 2023 regional bank failures and a $1.6 billion charge tied to accounting on interest rate swaps.

Revenue jumped 15% to $25.5 billion on rising fees from investment banking and asset management and stronger trading results.

Investment banking fees surged 44% to $1.65 billion, roughly $180 million more than analysts had expected. That indicates the company’s bankers had a strong end to the year, as just last month, CEO Brian Moynihan told investors that investment banking fees would jump 25% in the quarter.

Unlike with rivals including Goldman Sachs, Bank of America’s trading operations didn’t significantly exceed expectations during the quarter. Fixed income revenue rose 13% to $2.48 billion, roughly in line with the StreetAccount estimate, while equities revenue rose 6% to $1.64 billion, also essentially matching expectations.

But the firm said that net interest income, one of the most watched figures for the lender, rose 3% to $14.5 billion, exceeding estimates by about $170 million.

Perhaps more than other megabanks, the firm’s fortunes seem to hinge on rates and their impact on net interest income. Investors will be keen to hear about the company’s target for 2025, especially as expectations for rate cuts have been reined in.

On Wednesday, JPMorgan Chase and Goldman topped estimates on better-than-expected results from Wall Street units. Morgan Stanley is also scheduled to post results Thursday.

Correction: Bank of America’s fourth-quarter profit more than doubled to $6.67 billion. An earlier version misstated the move. The company’s equities revenue rose to $1.64 billion. An earlier version misstated the figure.

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