Bank of America delivered earnings of $0.41 a share on revenue of $22.2 billion in the first three months of 2017.

That was ahead of analyst expectations. Bank of America had been expected to report earnings of $0.35 a share on revenue of $21.65 billion, according to Bloomberg.

The better-than-expected performance was built on an increase in net interest income, with the bank reporting an increase in loans and deposits, and a strong performance in the investment bank.

“Each of our businesses reported higher revenue and earnings this quarter, and each recorded solid operating leverage,” Paul Donofrio, the bank’s CFO, said in a statement. “We grew loans and deposits, while remaining within our risk framework. We also did a good job managing expenses.”

Here are the key numbers:

    Net income increased 40% to $4.9 billion. EPS increased 46% to $0.41. Revenues increased 7% to $22.2 billion.

In consumer banking, loans increased $18 billion, while deposits were up by $64 billion. Net interest income increased by 5% to $11.1 billion, driven by the increase in loans and the benefit of higher rates.

Noninterest income increased 9% to $11.2 billion meanwhile, with the bank reporting strong trading results and a record quarter for investment-banking fees. The bank reported record revenue of $5 billion in global banking, record firm-wide investment-banking revenue, and record mergers-and-acquisitions fees.

Sales and trading revenue was $3.9 billion, including an accounting adjustment of $130 million. Excluding this adjustment, sales and trading revenue was up 23%, with fixed-income revenue up 29%.

Credit Suisse analyst Susan Katzke said the results were a "net positive."

"Earnings upside was a function of better than expected revenue growth (capital markets, NIM expansion and other), expenses were well controlled and here too credit costs were a bit less/better than we'd forecast," she said.

The bank follows in the footsteps of JPMorgan, Citigroup, and Wells Fargo, which reported last week. All three reported earnings ahead of estimates.