UPDATE: BNY Mellon Posts Upbeat Q3 Profit
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.
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