(Adds details on results from statement)
Oct 16 (Reuters) - Bank of America Corp, the second-largest U.S. bank by assets, beat analysts' estimates for quarterly profit as gains from trading in stocks and robust loan growth helped cushion it from lower interest rates.
The lender's shares were up 1.6% in premarket trading as consumer banking showed strength, helping it ride out uncertainties in global financial markets.
"In a moderately growing economy, we focused on driving those things that are controllable," Chief Executive Brian Moynihan said in a statement.
Consumer banking revenue rose 3% to $9.7 billion, while its trading business delivered a solid quarter, driven mainly by a strong performance from equities trading, which rose 13% to $1.1 billion.
The bank's net interest income, or the difference between what it charges on loans and pays on deposits, also came in higher at $12.19 billion, accounting for more than half of its total revenue.
Net income applicable to common shareholders fell to $5.27 billion, or 56 cents per share, in the third quarter ended Sept. 30, from $6.70 billion, or 66 cents per share, a year earlier. Then latest quarter includes $2 billion in pretax impairment charge. Excluding the charge, the bank earned 75 cents per share.
Revenue, net of interest expense, rose slightly to $22.96 billion.
Analysts were expecting a profit of 51 cents per share and revenue of $22.79 billion, according to IBES data from Refinitiv. (Reporting by Anirban Sen in Bangalore and Imani Moise in New York; Editing by Saumyadeb Chakrabarty)