BK Earnings: Highlights of Bank of New York Mellon’s Q2 2024 results

The Bank of New York Mellon Corporation (NYSE: BK) reported an increase in earnings for the second quarter of 2024 when the financial services provider’s revenues rose by 2%.

Net income, adjusted for special items, increased to $1.51 per share in the June quarter from $1.38 per share in the same period of the prior year. Unadjusted net income applicable to common shareholders was $1.14 billion or $1.52 per share in Q2, vs. $1.04 billion or $1.31 per share in the comparable quarter of last year.

Second-quarter revenue was $4.60 billion, up 2% from the year-ago quarter. Assets under management increased 7% annually to $2.0 trillion.

“Last month, we celebrated the 240th anniversary of our company. As we write our next chapter, we continue to take steps to propel us forward – investing in our leadership team, launching new client solutions, and modernizing our brand,” said the company’s chief executive officer Robin Vince.

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