NEW YORK – The Bank of New York Mellon Corporation (NYSE:) reported fourth quarter 2024 earnings that surpassed analyst expectations, driving its shares up 1.73% in early trading.
BNY Mellon posted adjusted earnings per share of $1.54, beating the analyst consensus of $1.51 by $0.03. Revenue for the quarter came in at $4.85 billion, exceeding the estimated $4.64 billion and representing a significant increase from the same period last year.
The financial services giant’s strong performance was attributed to robust growth across its key business segments.
The company reported $52.1 trillion in assets under custody and/or administration as of December 31, 2024, highlighting its dominant position in the global financial services industry.
Additionally, BNY Mellon’s assets under management reached $2.0 trillion by the end of the quarter.
While the company did not provide specific guidance for the upcoming quarters or fiscal year, investors responded positively to the earnings beat and revenue growth. The 1.73% increase in share price reflects market optimism about BNY Mellon’s performance and outlook.
As a global financial services leader, BNY Mellon’s results offer insights into the broader financial sector’s health and may indicate positive trends for other major banks reporting earnings in the coming weeks.
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