Bank of New York (NYSE: BK) reported Q4 EPS of $1.28, $0.41 better than the analyst estimate of $0.87. Revenue for the quarter came in at $4.31 billion versus the consensus estimate of $4.29 billion.

Robin Vince, President and Chief Executive Officer:

"The fourth quarter marked the close to a year in which we clarified our strategic priorities and laid a foundation for a multi-year transformation. In 2023 we started to show early evidence that we can deliver stronger financial performance. We exceeded the financial outlook that we communicated at the beginning of last year and today we are announcing further improved financial targets for each of our business segments and the firm overall in the medium-term.

Our 2023 financial results also once again highlight BNY Mellon’s characteristic resilience and our ability to perform in challenging operating environments. Against a complex backdrop of macro-economic uncertainty, evolving monetary policies and geopolitical tensions, our earnings per share for the full-year 2023 increased year-over-year by 38% on a reported basis and by 10% on an adjusted basis. Pre-tax margin and ROTCE improved on the back of significant operating leverage generation, and we further strengthened our regulatory capital and liquidity ratios, all while returning $3.9 billion of capital, or 123% of earnings,
to common shareholders in 2023.

We are entering 2024, the year of our 240th anniversary, on a strong footing and with great momentum. Our priorities are clear, and we are moving with speed to be more for our clients, run our company better, and power our culture in 2024 and beyond."

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