Bank of America ( BAC ) shares rose Tuesday as second-quarter revenue and profit beat estimates despite slightly lower net interest income (NII ) than analysts were anticipating.

The bank reported net income of $6.9 billion, or 83 cents per share, below last year’s marks but still better than the $6.6 billion, or 79 cents per share, that analysts had projected, according to estimates compiled by Visible Alpha.

Revenue also beat estimates as it grew about 1% year-over-year to $25.4 billion, which Bank of America credited to higher fees, along with improved sales and trading revenue. However, NII dropped 3% to $13.7 billion, narrowly below the $13.79 billion analysts expected, as Bank of America continued a trend of lower NII that started in last week’s bank earnings as greater deposit costs offset the benefit of higher interest rates.

Wealth Management, Investment Banking Drive Growth

Consumer banking revenue slipped 3% to $10.2 billion, but wealth management revenue grew 6% to $5.6 billion, and investment banking fees surged 29% to $1.6 billion.

Bank of America’s rivals JPMorgan Chase ( JPM ), Goldman Sachs ( GS ), Wells Fargo ( WFC ), and Citigroup ( C ) also reported higher second-quarter revenue from their investment banking activities in recent days.

Bank of America shares rose 3.6% to $43.41 as of 9:55 a.m. ET Tuesday. They are up over 28% in 2024.