UPDATE: Northern Trust Q2 Profit Increases 6.4%
Northern Trust (NASDAQ: NTRS) 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.