Categories AlphaGraphs, Earnings, Finance
BK Earnings: Highlights of Bank of New York Mellon’s Q2 financial results
The Bank of New York Mellon Corporation (NYSE: BK) has reported a 7% increase in second-quarter revenues, reflecting the benefit of higher interest rates and the strength of the company’s diversified platform. However, net profit declined.
The second quarter net income decreased to $835 million or $1.03 per share from $699 million or $0.86 per share in the corresponding period of 2021.
At $4.3 billion, net revenues were up 7% year-over-year, with the core Market & Wealth Services and Securities Services segments registering double-digit growth.
Read management/analysts’ comments on quarterly reports
“We continued to see good sales momentum across most of our businesses, and healthy client volumes tempered the impact of lower market values. We deeply appreciate our employees’ commitment in these more volatile markets. Our clients clearly value our resilience, the quality of our services and insights, and the trusted relationship that they have with BNY Mellon,” said the bank’s president Robin Vince.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
_________________________________________________________________________________________________________________
Most Popular
CAT Stock: Here’s what you need to know before investing in Caterpillar
After beating the virus-induced slowdown, excavator company Caterpillar Inc. (NYSE: CAT) is currently battling high operating costs and supply constraints that offset benefits of the demand recovery spurred by market
eBay (EBAY): A look at this ecommerce company’s expectations for the rest of the year
Shares of eBay Inc. (NASDAQ: EBAY) were up over 1% on Friday. The stock has dropped 25% year-to-date and 33% over the past 12 months. Last week, the company delivered
Stock Watch: Why General Motors (GM) is a good buy after earnings
When the COVID crisis battered the business world a couple of years ago, General Motors Company (NYSE: GM) was not spared, though the impact was not as big as initially
