Bank of America on Wednesday posted third-quarter results that exceeded analysts’ expectations on stronger-than-expected investment banking revenue.

Here’s what the company reported:

• Earnings per share: $1.06 vs. 95 cents LSEG estimate
• Revenue: $28.24 billion vs. expected $27.5 billion

The second largest U.S. bank by assets said that profit rose 23% from a year earlier to $8.5 billion, or $1.06 per share. Revenue rose 10.8% to $28.24 billion.

Like its peers, Bank of America’s Wall Street businesses helped fuel the quarter’s results.

Banks including JPMorgan Chase

and Goldman Sachs reported strong gains in trading and investment banking revenue on heightened activity among both institutional investors and corporations looking to acquire companies or raise capital.

Bank of America said investment banking fees surged 43% from a year earlier to $2 billion, about $380 million more than analysts surveyed by StreetAccount had expected.

Equities trading also contributed to the quarterly beat; revenue there rose 14% to $2.3 billion, roughly $200 million more than the StreetAccount estimate.

Fixed income trading rose 5% to $3.1 billion, matching expectations.

Shares of the bank have climbed roughly 14% this year.

On Tuesday JPMorgan, Goldman, Citigroup

and Wells Fargo each posted earnings that topped analysts’ expectations for earnings and revenue.

This story is developing. Please check back for updates.