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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