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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 enhance from the identical interval final yr.
The monetary companies big’s sturdy efficiency was attributed to strong development throughout its key enterprise segments.
The corporate reported $52.1 trillion in belongings beneath custody and/or administration as of December 31, 2024, highlighting its dominant place within the international monetary companies business.
Moreover, BNY Mellon’s belongings beneath administration reached $2.0 trillion by the top of the quarter.
Whereas the corporate didn’t present particular steerage for the upcoming quarters or fiscal yr, buyers responded positively to the earnings beat and income development. The 1.73% enhance in share value displays market optimism about BNY Mellon’s efficiency and outlook.
As a worldwide monetary companies chief, BNY Mellon’s outcomes supply insights into the broader monetary sector’s well being and will point out constructive tendencies for different main banks reporting earnings within the coming weeks.
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