The Bank of New York Mellon Corp. (BK) revealed a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $822 million, or $1.01 per share. This compares with $702 million, or $0.79 per share, in last year's fourth quarter.
Analysts on average had expected the company to earn $1.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 4.7% to $4.02 billion from $3.84 billion last year.
The Bank of New York Mellon Corp. earnings at a glance:
-Earnings (Q4): $822 Mln. vs. $702 Mln. last year.-EPS (Q4): $1.01 vs. $0.79 last year.-Analyst Estimate: $1.01-Revenue (Q4): $4.02 Bln vs. $3.84 Bln last year.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.