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0 0 0.000596395079047063 0.00198336037915664 0.00654053207951673 0.0105032900798297 -0.0122825684219703 -0.00257381132120332
Stock impact report

UPDATE 1-BNY Mellon profit beats estimates on higher asset servicing fee [Reuters (UK)]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: Reuters
BNY Mellon profit beats estimates on higher asset servicing fee | Reuters 2 Min Read (Reuters) - Bank of New York Mellon Corp ( BK.N ) beat Wall Street estimates for fourth-quarter profit on Wednesday, as it earned more in fees from servicing assets that clients keep with the bank and kept a tight lid on expenses. A 10 percent rise in total fee revenue to $3.15 billion lifted overall revenue by 7.5 percent to $4 billion. Non-interest expenses fell 1 percent to $2.99 billion. Shares of the world’s largest custodian bank rose 0.7 percent to $49.77 in early trading. Net income applicable to common shareholders fell to $832 million, or 84 cents per share, in the quarter ended Dec.31, from $1.13 billion, or $1.08 per share, a year earlier, when it took a one-time gain of $181 million due to U.S. corporate tax cuts. On an adjusted basis, the company earned $987 million or 99 cents per share. Analysts on average had expected earnings of 92 cents per share, according to IBES data from Refin Show less Read more
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