Bank of New York Mellon gains over 1.0% in pre-market after earnings release

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.

• 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.

• 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.

• 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.

• 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:

• Net profit: $509M. vs $822M last year.

• EPS: $0.62 vs $1.01 last year.

• 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