The Bank of New York Mellon Corp. Reveals Drop In Q2 Bottom Line, misses estimates

The Bank of New York Mellon Corp. (BK) revealed a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $835 million, or $1.03 per share. This compares with $991 million, or $1.13 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.3% to $4.25 billion from $3.96 billion last year.

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

-Earnings (Q2): $835 Mln. vs. $991 Mln. last year.
-EPS (Q2): $1.03 vs. $1.13 last year.
-Analyst Estimates: $1.12
-Revenue (Q2): $4.25 Bln vs. $3.96 Bln last year.

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