The Bank of New York Mellon Corp. Q2 Profit Increases, beats estimates

(RTTNews) - The Bank of New York Mellon Corp. (BK) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.03 billion, or $1.30 per share. This compares with $0.84 billion, or $1.03 per share, in last year's second quarter.

Excluding items, The Bank of New York Mellon Corp. reported adjusted earnings of $1.38 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.7% to $4.45 billion from $4.25 billion last year.

The Bank of New York Mellon Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $1.03 Bln. vs. $0.84 Bln. last year. -EPS (Q2): $1.30 vs. $1.03 last year. -Analyst Estimate: $1.22 -Revenue (Q2): $4.45 Bln vs. $4.25 Bln last year.