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BNY Mellon (BK) Q2 Earnings, Revenues In-Line with Estimates
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Have you been eager to see how The Bank of New York Mellon Corporation (BK - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based financial services company’s earnings release this morning:
Earnings In-Line
BNY Mellon came out with earnings of $1.03 per share, in-line with the Zacks Consensus Estimate. The figure was up 17% from the prior year quarter.
Results were aided by a rise in revenues, offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BNY Mellon depicted a neutral trend prior to the earnings release. The Zacks Consensus Estimate of $1.03 remained stable over the last 30 days.
BNY Mellon has a decent earnings surprise history. The company delivered positive surprises in three and matched in one of the trailing four quarters, with an average beat of 7.1%.
The Bank of New York Mellon Corporation Price and EPS Surprise
BNY Mellon posted total revenues of $4.14 billion, which increased 5% year over year. The figure was in-line with the Zacks Consensus Estimate.
Key Statistics
Provision for credit losses was a benefit of $3 million
Assets under custody and/or administration grew 8% year over year
Repurchased 12 million common shares for $651 million during the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BNY Mellon. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BNY Mellon earnings report!
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BNY Mellon (BK) Q2 Earnings, Revenues In-Line with Estimates
Have you been eager to see how The Bank of New York Mellon Corporation (BK - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based financial services company’s earnings release this morning:
Earnings In-Line
BNY Mellon came out with earnings of $1.03 per share, in-line with the Zacks Consensus Estimate. The figure was up 17% from the prior year quarter.
Results were aided by a rise in revenues, offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BNY Mellon depicted a neutral trend prior to the earnings release. The Zacks Consensus Estimate of $1.03 remained stable over the last 30 days.
BNY Mellon has a decent earnings surprise history. The company delivered positive surprises in three and matched in one of the trailing four quarters, with an average beat of 7.1%.
The Bank of New York Mellon Corporation Price and EPS Surprise
The Bank of New York Mellon Corporation Price and EPS Surprise | The Bank of New York Mellon Corporation Quote
Revenues
BNY Mellon posted total revenues of $4.14 billion, which increased 5% year over year. The figure was in-line with the Zacks Consensus Estimate.
Key Statistics
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BNY Mellon. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this BNY Mellon earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>