Bank of New York Mellon (BK, $43.40) beat Q2 earnings expectations

Bank of New York Mellon Corp. posted its second quarter adjusted earnings of $1.15 per share , surpassing the $1.12 per share analysts polled by Thomson Reuters expected. The bottom line climbed +1.8% from the year-ago quarter.

The bank’s net income applicable to common shareholders (GAAP basis) came in at $835 million or $1.03 per share, down from $991 million or $1.13 per share in the year-ago quarter.

Total revenues rose +7.4% from the yar-ago quarter to $4.25 billion, vs. $4.17 billion expected by analysts polled by Thomson Reuters.

The results were bolstered by a rise in net interest revenues and fee revenues. However, asset balances experienced decrease, while higher expenses was a dampener to some extent.

Bank of New York Mellon mentioned that  its Board of Directors approved an increase of the quarterly cash dividend on its common shares by +9% to $0.37 per share.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.