UPDATE: BNY Mellon Posts Upbeat Q3 Profit

Bank of New York Mellon

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.