The Bank Of New York Mellon Corp. Q4 Profit Increases, Beats Estimates

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

The company's bottom line totaled $1.130 billion, or $1.54 per share. This compares with $162 million, or $0.21 per share, in last year's fourth quarter.

Excluding items, The Bank of New York Mellon Corp. reported adjusted earnings of $1.264 billion or $1.72 per share for the period.

Analysts on average had expected the company to earn $1.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $4.847 billion from $4.358 billion last year.

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

-Earnings (Q4): $1.130 Bln. vs. $162 Mln. last year. -EPS (Q4): $1.54 vs. $0.21 last year. -Revenue (Q4): $4.847 Bln vs. $4.358 Bln last year.