Bank of NY Mellon (NYSE:BK) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Bank of NY Mellon announced earnings per share of $1.05 on revenue of $4.11B. Analysts polled by anticipated EPS of $0.88 on revenue of $3.88B. That with comparison to EPS of $0.94 on revenue of $3.9B in the same period a year before. Bank of NY Mellon had reported EPS of $1.52 on revenue of $3.99B in the previous quarter. Analysts are expecting EPS of $0.88 and revenue of $3.86B in the upcoming quarter.
Bank of NY Mellon shares are down 49% from the beginning of the year , still down 35.39% from its 52 week high of $53.60 set on April 16, 2019. They are under-performing the S&P 500 which is down 14.22% year to date.
Bank of NY Mellon follows other major Financial sector earnings this month
Bank of NY Mellon's report follows an earnings missed by JPMorgan on Tuesday, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $2.28 on revenue of $29.53B.
UnitedHealth had beat expectations on Wednesday with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.18B.
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