BK Earnings: A snapshot of Bank of New York Mellon Corporation’s Q4 results

The Bank of New York Mellon Corporation (NYSE: BK) reported an increase in its fourth-quarter adjusted earnings, while the financial service provider’s revenues declined by 2%. Net income, adjusted for special items, was $1.30 per share in the final three months of fiscal 2022, higher than the $1.04/share profit reported in the same period of […]

January 13, 2023 1 min read

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The Bank of New York Mellon Corporation (NYSE: BK) reported an increase in its fourth-quarter adjusted earnings, while the financial service provider’s revenues declined by 2%. Net income, adjusted for special items, was $1.30 per share in the final three months of fiscal 2022, higher than the $1.04/share profit reported in the same period of […]
· January 13, 2023

The Bank of New York Mellon Corporation (NYSE: BK) reported an increase in its fourth-quarter adjusted earnings, while the financial service provider’s revenues declined by 2%.

Bank of New York Mellon Corporation Q4 2022 earnings infographic

Net income, adjusted for special items, was $1.30 per share in the final three months of fiscal 2022, higher than the $1.04/share profit reported in the same period of the prior year. Meanwhile, unadjusted net income applicable to common shareholders dropped to $509 million or $0.62 per share from $822 million or $1.01 per share.

Fourth-quarter revenue was $3.92 billion, down 2% from the year-ago quarter. Assets under management decreased 25% annually to $1.8 trillion, mainly due to lower market values, the unfavorable impact of a stronger U.S. dollar, and the divestiture of Alcentra, partially offset by net inflows.