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The Bank of New York Mellon Corp. Bottom Line Retreats In Q1

The Bank of New York Mellon Corp. (BK) announced a profit for first quarter that fell from the same period last year.

The company's profit came in at $0.91 billion, or $0.94 per share. This compares with $1.14 billion, or $1.10 per share, in last year's first quarter.

Analysts had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.7% to $3.90 billion from $4.18 billion last year.

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

-Earnings (Q1): $0.91 Bln. vs. $1.14 Bln. last year.
-EPS (Q1): $0.94 vs. $1.10 last year.
-Analysts Estimate: $0.96
-Revenue (Q1): $3.90 Bln vs. $4.18 Bln last year.

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