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Wednesday, 18 October 2023

Earnings: A snapshot of Bank of New York Mellon’s Q3 2023 results

by Rose White

Financial services provider The Bank of New York Mellon Corporation (NYSE: BK) reported an increase in third-quarter 2023 adjusted earnings, aided by a 2% growth in revenues.

Earnings: A snapshot of Bank of New York Mellon’s Q3 2023 results

Earnings: A snapshot of Bank of New York Mellon’s Q3 2023 results

Net income, adjusted for special items, increased to $1.27 per share in the third quarter from $1.21 per share in the same period of the prior year. Unadjusted net income applicable to common shareholders more than doubled to $956 million or $1.22 per share in Q3 from $319 million or $0.39 per share in the comparable quarter of last year.

Third-quarter revenue was $4.37 billion, up 2% from the year-ago quarter. Assets under management increased 3% annually to $1.8 trillion.

“We are innovating and pushing forward on our multi-year growth investments all while remaining disciplined to deliver positive operating leverage and pre-tax margin expansion,” said the company’s chief executive officer Robin Vince.

Prior Performance

  • Bank of New York Mellon Corporation Q4 2022 earnings infographic
  • Bank-of-New-York-Mellon-Q3-2022-Earnings-Infographic

The post Earnings: A snapshot of Bank of New York Mellon’s Q3 2023 results first appeared on AlphaStreet.

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