Categories AlphaGraphs, Earnings, Finance

A visual representation of BNY Mellon (BK) Q2 2020 earnings results

The Bank of New York Mellon Corporation (NYSE:BK) reported second quarter 2020 earnings results today.

Revenues increased 2% year-over-year to $4 billion, driven by a 2% increase in fee revenue.  

Net income applicable to common shareholders decreased 7% to $901 million. Diluted EPS remained flat versus the prior-year quarter at $1.01.

Net interest revenue fell 3%, mainly reflecting lower interest rates on interest-earning assets, partially offset by the benefit of lower deposit and funding rates and higher deposits, securities portfolio and loans.

Provision for credit losses amounted to $143 million, primarily reflecting increased downgrades and the continuation of the challenging macroeconomic outlook.

Also Read:  Infographic: Chewy (CHWY) Q2 2020 earnings in a nutshell

Most Popular

Major earnings conferences to watch this week

After registering a slow recovery in the first half of the week, the markets pared these gains on Thursday and Friday. The weakness witnessed in the latter half of the

Illumina (ILMN) is uniquely placed to offer long-term returns. Here’s why

Illumina, Inc. (NASDAQ: ILMN), a pioneer in genome sequencing technology, has strived to strengthen its unique position in the healthcare sector through strategic partnerships and technological innovation. Its performance so

The COVID-19 pandemic gave these companies an unexpected opportunity

The COVID-19 pandemic raged through the first half of this year and continues to impact the world without signs of abating. Amid this health crisis, several companies reported strong results