The Bank of New York Mellon Corporation Up 2.6% To $49.41 After Earnings Beat

The Bank of New York Mellon Corporation (BK) said before open Friday that it earned $1.3 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $4.4 billion, beating estimates by $168 million.

In the same quarter a year ago, the company earned $1.04 per share on revenue of $4 billion. The company reported revenue on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

The stock is up 2.6% to $49.41 after the report.

The Bank of New York Mellon Corporation's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned The Bank of New York Mellon Corporation a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 65. Meanwhile, the average Wall Street analyst rated the stock a Buy.

BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with about $41.1 trillion in under custody and administration (as of Dec. 31, 2020), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.2 trillion in assets.