Benefitting from the investment banking boom, Merrill Lynch (MER) posted better than expected earnings for Q2.
Revenue rose 19% to $9.7 billion. Net earnings rose 31% to $2.1 billion.
Revenue at the company’s fixed income and commodities business was up 55% to $2.6 billion. Investment banking revenue rose 41% to $1.4 billion.
The stock is up in the pre-market
Douglas A. McIntyre
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