The Bank Of New York Mellon Corp. Q3 Profit Increases, Beats Estimates

(RTTNews) - The Bank of New York Mellon Corp. (BK) released a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $1.110 billion, or $1.50 per share. This compares with $958 million, or $1.23 per share, in last year's third quarter.

Excluding items, The Bank of New York Mellon Corp. reported adjusted earnings of $1.52 per share for the period.

Analysts on average had expected the company to earn $1.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $4.648 billion from $4.420 billion last year.

The Bank of New York Mellon Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.110 Bln. vs. $958 Mln. last year. -EPS (Q3): $1.50 vs. $1.23 last year. -Revenue (Q3): $4.648 Bln vs. $4.420 Bln last year.