Bank of America posted a $10.4bn writedown tied to new financial regulations in the third quarter as the Charlotte company's revenue rose and its investment bank's fixed-income desk turned in better results than competitors.

Because of the writedown, the bank's third-quarter loss widened to $7.3bn, or 77 cents a share, as compared to a loss of $1bn, or 26 cents a share, a year earlier. Without the the noncash writedown, the bank earned $3.1bn, or 27 cents a share, and reported much-improved credit quality. Revenue climbed 2.3% to $27bn.