The Bank of New York Mellon Earnings: Everything You Must Know Now

The Bank of New York Mellon Corporation (NYSE:BK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

The Bank of New York Mellon Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 58.97% to $0.62 in the quarter versus EPS of $0.39 in the year-earlier quarter.

Revenue: Rose 0.75% to $3.79 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: The Bank of New York Mellon Corporation reported adjusted EPS income of $0.62 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $3.71 billion.

Quoting Management: “We are pleased to report strong earnings and record revenues for the quarter, as all of our businesses delivered year-over-year increases. Our solid revenue growth is a reflection of better market conditions in the quarter, as well as our success in collaborating across the Company to deliver solutions our clients need. In addition, Investment Management recorded its fifteenth consecutive quarter of net positive long-term flows. In the second quarter we generated nearly $900 million of capital, approximately $500 million of which we used to step up share buybacks by more than 50 percent and increase our quarterly dividend by 15 percent,” said Gerald L. Hassell, chairman and chief executive officer of BNY Mellon.

Key Stats (on next page)…

Revenue increased 2.08% from $3.71 billion in the previous quarter. EPS increased 24% from $0.50 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.59 and has not changed. For the current year, the average estimate is a profit of $2.26, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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