BNY Mellon’s Q1 Earnings & Revenues Meet Expectations

The Bank of New York Mellon Corporation’s (BK – Free Report) first-quarter 2017 adjusted earnings per share were 80 cents, in line with the Zacks Consensus Estimate.

A rise in revenues and provision benefit supported the results. Also, assets under management (AUM) reflected growth. However, a marginal increase in expenses and lower foreign exchange and other trading revenues were among the headwinds.

After considering 3 cents per share of tax benefit related to new accounting guidance for stock awards, net income applicable to common shareholders for the quarter came in at $880 million or 83 cents per share, up from $804 million or 73 cents per share in the prior-year quarter.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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