BNY Mellon Q3 Results Top Estimates

(RTTNews) - Bank of New York Mellon Corp. (BK) reported Tuesday that net income applicable to common shareholders for the third quarter soared to $956 million or $1.22 per share from $319 million or $0.39 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.27 per share, compared to $1.21 per share in the year-ago quarter.

Total revenue for the quarter increased 2 percent to $4.37 billion from $4.28 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share on revenue of $4.33 billion for the quarter. Analysts' estimates typically exclude certain special items.

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