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The Bank of New York Mellon (BK) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, The Bank of New York Mellon Corporation (BK - Free Report) reported revenue of $4.53 billion, up 3.8% over the same period last year. EPS came in at $1.29, compared to $1.13 in the year-ago quarter.
The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $4.4 billion. With the consensus EPS estimate being $1.19, the EPS surprise was +8.40%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Bank of New York Mellon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total interest-earning assets - Average balance: $346.13 billion versus $342.26 billion estimated by five analysts on average.
Net Interest Margin (FTE Basis): 1.2% compared to the 1.2% average estimate based on five analysts.
Tier 1 Leverage Ratio: 5.9% versus 6% estimated by four analysts on average.
Tier 1 Capital Ratio (Standardized Approach): 13.4% compared to the 14% average estimate based on three analysts.
Revenues- Market and Wealth Services- Total Revenue: $1.52 billion versus the two-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of +3.4%.
Revenues- Securities Services- Total Fee and Other Revenue: $1.56 billion versus $1.51 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.3% change.
Revenues- Securities Services- Net Interest Revenue: $583 million versus the two-analyst average estimate of $614.06 million. The reported number represents a year-over-year change of -12.5%.
Revenues- Securities Services- Total Revenue: $2.14 billion versus the two-analyst average estimate of $2.13 billion. The reported number represents a year-over-year change of +1.1%.
Revenues- Investment and Wealth Management- Total Revenue: $846 million compared to the $819.01 million average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
Revenues- Market and Wealth Services- Total Fee and Other Revenue: $1.09 billion versus $1.04 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
Revenues- Investment and Wealth Management- Net Interest Revenue: $41 million compared to the $44.10 million average estimate based on two analysts. The reported number represents a change of -8.9% year over year.
Revenues- Investment and Wealth Management- Total Fee and Other Revenue: $805 million versus the two-analyst average estimate of $745.80 million. The reported number represents a year-over-year change of +2.9%.
Shares of The Bank of New York Mellon have returned +0.3% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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The Bank of New York Mellon (BK) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, The Bank of New York Mellon Corporation (BK - Free Report) reported revenue of $4.53 billion, up 3.8% over the same period last year. EPS came in at $1.29, compared to $1.13 in the year-ago quarter.
The reported revenue represents a surprise of +2.91% over the Zacks Consensus Estimate of $4.4 billion. With the consensus EPS estimate being $1.19, the EPS surprise was +8.40%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Bank of New York Mellon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total interest-earning assets - Average balance: $346.13 billion versus $342.26 billion estimated by five analysts on average.
- Net Interest Margin (FTE Basis): 1.2% compared to the 1.2% average estimate based on five analysts.
- Tier 1 Leverage Ratio: 5.9% versus 6% estimated by four analysts on average.
- Tier 1 Capital Ratio (Standardized Approach): 13.4% compared to the 14% average estimate based on three analysts.
- Revenues- Market and Wealth Services- Total Revenue: $1.52 billion versus the two-analyst average estimate of $1.46 billion. The reported number represents a year-over-year change of +3.4%.
- Revenues- Securities Services- Total Fee and Other Revenue: $1.56 billion versus $1.51 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.3% change.
- Revenues- Securities Services- Net Interest Revenue: $583 million versus the two-analyst average estimate of $614.06 million. The reported number represents a year-over-year change of -12.5%.
- Revenues- Securities Services- Total Revenue: $2.14 billion versus the two-analyst average estimate of $2.13 billion. The reported number represents a year-over-year change of +1.1%.
- Revenues- Investment and Wealth Management- Total Revenue: $846 million compared to the $819.01 million average estimate based on two analysts. The reported number represents a change of +2.3% year over year.
- Revenues- Market and Wealth Services- Total Fee and Other Revenue: $1.09 billion versus $1.04 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenues- Investment and Wealth Management- Net Interest Revenue: $41 million compared to the $44.10 million average estimate based on two analysts. The reported number represents a change of -8.9% year over year.
- Revenues- Investment and Wealth Management- Total Fee and Other Revenue: $805 million versus the two-analyst average estimate of $745.80 million. The reported number represents a year-over-year change of +2.9%.
View all Key Company Metrics for The Bank of New York Mellon here>>>Shares of The Bank of New York Mellon have returned +0.3% over the past month versus the Zacks S&P 500 composite's -0.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.