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published in Blogs
Jul 17, 2022
Bank of New York Mellon (BK, $43.40) beat Q2 earnings expectations

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.

 

Related Tickers: BK