Bank of New York (BK) Tops Q3 EPS by 3c

Bank of New York (NYSE: BK) reported Q3 EPS of $0.64, $0.03 better than the analyst estimate of $0.61. Revenue for the quarter came in at $3.78 billion versus the consensus estimate of $3.98 billion.

Assets under management up 7% year-over-year to a record $1.65 trillion

"We had a strong quarter. We grew Investment Management and Investment Services fees, controlled expenses and executed on our capital plan. During the quarter, we also repositioned the Markets Group, which will improve our operating margin and return on capital. We achieved this despite a challenging environment, demonstrating the resilience of our business model and the exceptional efforts of our employees," said Gerald L. Hassell, chairman and chief executive officer of BNY Mellon.

For earnings history and earnings-related data on Bank of New York (BK) click here.

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