Bank of America's profits rise 6 percent, beats estimates

Markets Associated Press

This Monday, July 18, 2016, photo shows the top of a Bank of America ATM booth, in Woburn, Mass. Bank of America is scheduled to report financial results, Monday, Oct. 17, 2016. (AP Photo/Elise Amendola) (The Associated Press)

Bank of America's third-quarter profits rose nearly 6 percent from a year earlier, helped by strong results in investment banking and trading.

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The consumer banking giant said Monday it earned $4.45 billion after paying dividends to preferred shareholders in the three months ending in September, up from $4.178 billion in the same period a year earlier.

The per-share figure rose to 41 cents versus 38 cents a year ago, easily beating the 34 cents per share analysts were expecting, according to FactSet.

Revenue rose to $21.64 billion from $20.99 billion.

BofA's shares rose 2 percent in pre-market trading.