UPDATE 2-BNY Mellon profit beats on strong growth across businesses [Reuters]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: Reuters
UPDATE 2-BNY Mellon profit beats on strong growth across businesses | Reuters Reuters Staff 2 Min Read (Adds CEO quotes from statement, details, shares) April 19 (Reuters) - Bank of New York Mellon Corp reported a better-than-expected first-quarter profit on Thursday, as surging equity markets and a weaker dollar helped drive double-digit growth in its assets servicing and management businesses. Shares of the world’s largest custodian bank rose 3.3 percent at $54 in premarket trading. Asset servicing revenue surged 13 percent to $1.52 billion, while asset management revenue jumped 16 percent to $770 million, the company said. “While we should remain beneficiaries of strong and growing markets over the long term, we are focused on continuing to increase our organic revenue growth,” Chief Executive Charles Scharf said in a statement. Under Scharf, the bank has been investing heavily in technology to automate most of its processes and cut costs. However, Scharf said despite the company’s
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News
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- Buying This Dip Is Better Than Cash, BNY Mellon Wealth CIO Says [BNN Bloomberg (Canada)]BNN Bloomberg
- The Bank of New York Mellon Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions [Yahoo! Finance]Yahoo! Finance
- The Bank of New York Mellon Co. (NYSE: BK) had its price target raised by analysts at Jefferies Financial Group Inc. from $67.00 to $68.00. They now have a "buy" rating on the stock.MarketBeat
BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 4/18/24 - Form 144
- 4/18/24 - Form NPORT-P
- 4/18/24 - Form NPORT-P
- BK's page on the SEC website