Bank of New York Mellon Analysts Increase Their Forecasts After Upbeat Earnings

The Bank Of New York Mellon Corporation (NYSE:BK) posted better-than-expected third-quarter results on Friday. The finance behemoth reported third-quarter adjusted earnings per share of $1.52 (+20% YoY), beating the street view of $1.42. Quarterly revenue of $4.648 billion, an increase of 5% year-over-year, surpassed the analyst consensus of $4.542 billion. "BNY reported strong third quarter results, reflecting growth across our three business segments and consistent execution against our strategic priorities, with assets under custody and/or administration exceeding $50 trillion for the first time," commented Robin Vince, President and ...