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The Bank of New York Mellon Corp. Q1 Income Drops

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

The company's profit totaled $858 million, or $0.97 per share. This compares with $944 million, or $1.05 per share, in last year's first quarter.

Analysts had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.6% to $3.92 billion from $4.11 billion last year.

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

-Earnings (Q1): $858 Mln. vs. $944 Mln. last year.
-EPS (Q1): $0.97 vs. $1.05 last year.
-Analysts Estimate: $0.87
-Revenue (Q1): $3.92 Bln vs. $4.11 Bln last year.

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