: Bank of New York Mellon matches profit expectations, while revenue beats #FinanceUSA #StockMarketNEWS Shares of Bank of New York Mellon Corp. were little changed in premarket trading Tuesday, after

@stockMarketNEWS Tue 18 Jan, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Bank of New York Mellon matches profit expectations, while revenue beats #FinanceUSA #StockMarketNEWS
Shares of Bank of New York Mellon Corp. were little changed in premarket trading Tuesday, after the banking and trust and custody company reported fourth-quarter profit that matched expectations and revenue that topped forecasts. Net income rose to 2 million, or .01 a share, from 2 million, or 79 cents a share, in the year-ago period, compared with the FactSet consensus for earnings per share of .01. Total revenue rose 4.5% to .02 billion, above the FactSet consensus of .97 billion, as net interest income slipped 0.4% to 7 million but topped expectations of 1.5 million. Among business segments, security services revenue rose 5% to .83 billion, market and wealth services revenue grew 1% to .17 billion and investment and wealth management revenue rose 3% to .02 billion. The bank said it repurchases .2 billion of its shares and paid out 0 million in dividends. The stock has rallied 10.8% over the past three months while the S&P 500 has gained 3.9%.

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