The Bank Of New York Mellon Corp. Q2 Profit Increases, Beats Estimates

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

The company's earnings came in at $1.14 billion, or $1.52 per share. This compares with $1.04 billion, or $1.31 per share, in last year's second quarter.

Excluding items, The Bank of New York Mellon Corp. reported adjusted earnings of $1.51 per share for the period.

Analysts on average had expected the company to earn $1.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.2% to $4.60 billion from $4.50 billion last year.

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

-Earnings (Q2): $1.14 Bln. vs. $1.04 Bln. last year. -EPS (Q2): $1.52 vs. $1.31 last year. -Revenue (Q2): $4.60 Bln vs. $4.50 Bln last year.