Market Overview

UPDATE: BNY Mellon Posts Upbeat Q3 Profit

Share:
Related BK
Bank Of New York Mellon Reports EPS Just Above Estimates; Argus Maintains Hold
Earnings Scheduled For July 21, 2016
Dr. Michael Burry of 'The Big Short' Portfolio Review Shows Several Large Gains (GuruFocus)

Bank of New York Mellon (NYSE: BK) reported a 35% rise in its third-quarter net income.

BNY Mellon's quarterly profit surged to $980 million, from $725 million, in the year-ago period. Its per-share earnings climbed to $0.82 from $0.61. Excluding one-time items, it earned $0.60 per share.

Its revenue climbed 2.5% to $3.77 billion, while total fee revenue rose 2.9% to $2.94 billion. However, analysts were expecting earnings of $0.58 per share on revenue of $3.75 billion.

BNY Mellon shares closed at $30.85 yesterday.

Posted-In: profitEarnings News

 

Related Articles (BK)

View Comments and Join the Discussion!