UPDATE: Northern Trust Q2 Profit Increases 6.4%

Northern Trust

reported a 6.4% rise in its second-quarter earnings. Northern Trust's quarterly profit surged to $191.1 million, or $0.78 per share, from $179.6 million, or $0.73 per share, in the year-ago period. Its revenue increased 3.2% to $1.02 billion. However, analysts were expecting earnings of $0.83 per share on revenue of $1.03 billion. Its noninterest income rose 9% to $800.4 million, while net interest income fell 13% to $220.1 million. Northern Trust shares closed at $60.75 yesterday.