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NEW YORK – The Financial institution of New York Mellon Company (NYSE:BK) reported fourth quarter 2024 earnings that surpassed analyst expectations, driving its shares up 1.73% in early buying and selling.
BNY Mellon posted adjusted earnings per share of $1.54, beating the analyst consensus of $1.51 by $0.03. Income for the quarter got here in at $4.85 billion, exceeding the estimated $4.64 billion and representing a big improve from the identical interval final yr.
The monetary providers big’s sturdy efficiency was attributed to strong progress throughout its key enterprise segments.
The corporate reported $52.1 trillion in belongings underneath custody and/or administration as of December 31, 2024, highlighting its dominant place within the world monetary providers trade.
Moreover, BNY Mellon’s belongings underneath administration reached $2.0 trillion by the tip of the quarter.
Whereas the corporate didn’t present particular steering for the upcoming quarters or fiscal yr, traders responded positively to the earnings beat and income progress. The 1.73% improve in share worth displays market optimism about BNY Mellon’s efficiency and outlook.
As a world monetary providers chief, BNY Mellon’s outcomes provide insights into the broader monetary sector’s well being and should point out constructive developments for different main banks reporting earnings within the coming weeks.
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