Bank of America Corp(NYSE:BAC) shares are trading flat this week, though near 52-week highs, after the company announced a robust third-quarter fiscal 2024 net income of $6.9 billion, translating to EPS of 81 cents, surpassing analyst expectations of 77 cents.

However, the bank experienced a 12% decline in net income year-on-year, primarily attributed to higher provisions for loan losses and increasing operational expenses.

Despite this, the bank reported a modest revenue growth, with net revenue rising 1% to $25.49 billion, exceeding the consensus estimate of $25.29 billion.

What To Know: The results were buoyed by gains in trading revenue, asset management and investment...