The Bank of New York Mellon Corporation (NYSE: BK) is scheduled to report third-quarter 2024 results on Oct. 11, before market open. The company's revenues and earnings are expected to have increased on a year-over-year basis.
In the last reported quarter, BK's earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by a rise in fee revenues and lower expenses. The assets under custody and/or administration (AUC/A) and assets under management balances grew on a solid market rally. However, a decline in net interest revenues (NIR) acted as a headwind.
BNY Mellon has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat of 9.92%.
The Bank of New York Mellon Corporation Price and EPS Surprise
The Bank of New York Mellon Corporation price-eps-surprise | The Bank of New York Mellon Corporation Quote
The consensus estimate for the company's third-quarter earnings is pegged at $1.40 per share, which has been revised marginally upward over the past seven days. This indicates a rise of 10.2% from the year-ago quarter's reported number.
The consensus estimate for sales is pegged at $4.52 billion, implying 3.3% growth.
Key Factors to Impact BK's Q3 Results
Fee Revenues: The Zacks Consensus Estimate for total investment services ...
