The Bank of New York Mellon Corp. Q4 Profit Increases, beats estimates

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

The company's bottom line came in at $822 million, or $1.01 per share. This compares with $702 million, or $0.79 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $1.01 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 $4.02 billion from $3.84 billion last year.

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

-Earnings (Q4): $822 Mln. vs. $702 Mln. last year. -EPS (Q4): $1.01 vs. $0.79 last year. -Analyst Estimate: $1.01 -Revenue (Q4): $4.02 Bln vs. $3.84 Bln last year.