BNY Mellon Q2 Results Top Estimates

(RTTNews) - Bank of New York Mellon Corp. (BK) reported Friday that net income applicable to common shareholders for the second quarter grew to $1.14 billion or $1.52 per share from $1.04 billion or $1.31 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.51 per share, compared to $1.38 per share in the year-ago quarter.

Total revenue for the quarter increased 2 percent to $4.60 billion from $4.50 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.43 per share on revenue of $4.52 billion for the quarter. Analysts' estimates typically exclude certain special items.

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