Bank of New York Mellon Corp. (BK.US) also announced Q4 2022 results. Fourth quarter profit fell compared to the same period last year, but beat analysts' estimates.
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The company earned $509 million, or $0.62 per share. For comparison, in the fourth quarter of 2021 the bank recorded $822 million, or $1.01 per share.
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Excluding extraordinary events, The Bank of New York Mellon Corp. posted adjusted earnings of $1.06 billion, or $1.30 per share, for the period.
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Analysts on average expected the company to earn $0.83 per share, according to data compiled by Thomson Reuters. Analysts' estimates usually do not include extraordinary events.
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The company's revenue fell 2.5% in the quarter to USD 3.92 billion from USD 4.02 billion a year earlier
Bank of New York Mellon Corp. results:
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Net profit: $509M. vs $822M last year.
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EPS: $0.62 vs $1.01 last year.
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Analysts' estimates: Revenue (Q4): $3.92 Trillion vs $4.02 Trillion last year.
Bank of New York Mellon Corp. (BK.US) stock rose over 1.05 in pre market and currently trades around $48.65 per share. Source: xStation5
