UPDATE: Bank of New York Mellon Posts Higher Q4 Profit

Bank of New York Mellon

reported a rise in its fourth-quarter net income. Bank of New York Mellon's quarterly profit surged to $613 million, or $0.53 per share, versus $500 million, or $0.42 per share, in the year-ago quarter. Analysts were expecting earnings of $0.53 per share. The net interest margin declined to 1.09% from 1.27%. Bank of New York Mellon shares closed at $26.78 yesterday.