Bank of America Results reported on Thursday beat profit and revenue expectations, with investment banking and interest income better than expected.

Here’s what the company reports:

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

The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents a share, from a year earlier, when the bank paid a $2.1 billion assessment to the Federal Deposit Insurance Corporation, in line with regional banks’ 2023 related to the collapse and took a $1.6 billion charge related to accounting for interest rate swaps.

Revenue rose 15% to $25.5 billion on higher investment banking and asset management fees and strong trading performance.

Investment banking fees soared 44% to $1.65 billion, about $180 million higher than analysts expected. It’s a sign that the company’s bankers are ending the year on a strong note, and just last month, CEO Brian Moynihan told investors that investment banking fees would rise 25% in the current quarter.

Unlike competitors, including Goldman SachsBank of America’s trading business didn’t significantly beat expectations in the quarter. Fixed-income revenue rose 13% to $2.48 billion, roughly in line with StreetAccount’s forecast, while equity revenue rose 6% to $1.64 billion, also broadly in line with expectations.

But the company said net interest income, one of the bank’s most closely watched figures, rose 3% to $14.5 billion, about $170 million above expectations.

The company’s fortunes appear to depend more on interest rates and their impact on net interest income than those of other large banks. Investors will be eager to know the company’s targets for 2025, especially with interest rate cut expectations dampened.

Wednesday, JPMorgan Chase and Goldman Sachs beat expectations for better-than-expected results from the Wall Street unit. Morgan Stanley is also scheduled to report results on Thursday.

This story is developing. Please check back for updates.