Northern Trust Corporation (NASDAQ:NTRS) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. Net income increased 28.8% to $167.7 million (69 cents per diluted share) in the quarter versus a net gain of $130.2 million in the year-earlier quarter. Revenue decreased 6.63% to $969.7 million from the year-earlier quarter.
Northern Trust Corporation reported adjusted net income of 69 cents per share. By that measure, the company missed the mean analyst estimate of $0.75. It missed the average revenue estimate of $985.1 million.