May 30, 2018 / 9:07 PM / a year ago

Bank of America CEO sees second-quarter markets revenue flat vs year earlier

Brian T. Moynihan, Chairman and Chief Executive Officer of the Bank of America Corporation, attends the World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2018. REUTERS/Denis Balibouse

NEW YORK (Reuters) - Bank of America Corp (BAC.N) Chief Executive Brian Moynihan said second-quarter markets revenue from sales and trading will likely be flat compared with a year earlier, depending on what happens in June.

Speaking at an investor conference on Wednesday, Moynihan also said the bank will continue to benefit from using share buybacks to dispose of excess capital because its stock “is still cheap.”

Reporting by David Henry and Imani Moise in New York; Editing by Meredith Mazzilli

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