In premarket trade, its shares were up 0.75% at US$25.64.
The second largest bank in the US based on assets, it said that net income attributable to common shareholders rose to US$5.12bn, up from US$4.45bn recorded the previous year.
READ: Bank of America's second quarter profit beats expectations as rising short term interest rates offset trading slump
Earnings per share was up 48 US cents from 41 US cents, ahead of market expectations for 45 US cents a share.
Total revenue grew by 1% to US$22.08bn from US$21.86nm, a year earlier, again beating Wall Street’s expectations for US$21.98bn.
All was not rosy however. The lender, together with other bankers, had warned that trading revenue would come under pressure.