Bank of America posted earnings on Monday for the third quarter that beat expectations on both its top and bottom line. This was the first increase in profit in the past three quarter and was helped by strong revenue from bond trading.

Shares of the bank were up in premarket trading by over 1.5% following the announcement.

The bank reported earnings that reached 41 cents per share on $21.64 billion of revenue. Bank profit came in at $4.45 billion, which represent an increase of 6.6% from the same period one year ago.

Analysts on Wall Street were expecting the bank to post per share earnings of 34 cents on $20.96 billion in revenue.

The bank said that it experienced a rise in its sales and revenue from trading of 14%, helped by a jump of 32% in fixed income revenue. Revenue from its equities trading dropped by 17%.

Citigroup and JPMorgan Chase posted their earnings last Friday, with both beating Wall Street expectations, helped as well by stronger revenue from trading. Growth in loans was also strong said analysts.

Average total leases and loans were up 3% from the same period last year, while average deposits were up 6%, said the bank during a presentation.

The bank’s net interest income was up by $0.3 billion from last year’s third quarter to end this year’s quarter at $10.2 billion said bank officials.

The results of the third quarter are the first that reflect the discontinued use by the bank of one type of accounting method called FAS 91 that should lower net interest income volatility. New interest income is the difference between the income from asset interest such as interest the banks pays loans and mortgages.

Use of that method resulted in a downward adjustment of close to $1 billion to income for the Bank during the second quarter.

In the latter part of last month, the bank announced it was going to change that practice effective during this year’s third quarter.

Over the past three months, financials are the second best S&P 500 performers. However, the sector struggled during the first six months of the year with just moderate growth in the economy, lower expectations for a rate hike by the Federal Reserve and a terrible start to 2016 for the stock market.

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