— The Bank of New York Mellon Corp. (NYSE: BK) reported adjusted earnings of $1.01 per share for the fourth quarter of 2019, in line with the estimates.
— Net income increased to $1.39 billion or $1.52 per share from $832 million or $0.84 per share last year
— Total revenues advanced to $4.79 billion from $4 billion in the fourth quarter of 2018, vs. $3.94 billion expected
— Fee revenue increased 26%, primarily reflecting the gain on sale of an equity investment
— Return on common equity came in at 15%; return on tangible common equity at 29%
— Net interest revenue decreased 8% due to the impact of lower interest rates on interest-earning assets and lower noninterest-bearing deposits
— Noninterest expense increased 2%, excluding notable items, aided by continued investments in technology
— Repurchased 22.2 million shares for $1.04 billion and paid $286 million in dividends to shareholders during the quarter