Bank of America Corp (NYSE:BAC) beat analysts’ estimates for third-quarter profit and revenue, sending its shares up nearly 3% in initial trading Wednesday.

The bank’s stock recently traded at $30.51 a share, up 2.6%.

It reported that its profit fell less than expected, while revenue surprisingly rose as consumer and global banking and wealth and investment management revenue increased to offset a slight decline in global-markets revenue. 

Net income fell to $5.78 billion, or $0.56 a share, from $7.17 billion, or $0.66 a share in the year-ago period. Analysts had expected net income of $0.51 a share 

Total revenue rose to $22.81 billion from $22.72 billion, while analysts expected a decline to $22.58 billion. 

Net interest income grew to $12.19 billion from $12.06 billion, above the consensus of $12.15 billion, and non-interest income slipped to $10.62 billion from $10.66 billion but topped expectations of $10.38 billion. 

Average loans rose 5% to $9 billion, driven by residential mortgages. Equities revenue grew 13% to $1.1 billion, helped by growth in client financing activities, while fixed income, currency and commodities revenue was flat at $2.1 billion as improvement in mortgages and municipal products was offset by weaker trading in FX and credit products.

“In a moderately growing economy, we focused on driving those things that are controllable,” CEO Brian Moynihan said in the earnings release. “We made continued strong investments in our capabilities to serve customers, more relationship management teammates, more and refurbished branches and offices, and more digital capabilities, all while core expenses are flat.”

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