Caesars Entertainment misses Q2 earnings expectations, shares edge lower
Investing.com - Bank of New York Mellon Corp (NYSE:BK) on Friday reported first-quarter earnings and revenue that exceeded analyst expectations, driven by solid performance across its business segments.
The financial services company posted adjusted earnings per share of $1.58, surpassing the analyst consensus of $1.51. Revenue for the quarter came in at $4.79 billion, up 6% YoY and above the $4.76 billion estimate.
"BNY delivered a very solid performance in the first quarter, with total revenue of $4.8 billion, up 6% year-over-year," said Robin Vince, President and Chief Executive Officer. He noted that the company's new commercial coverage approach and transition to strategic platforms contributed to delivering more integrated client solutions.
The company's non-interest expense increased 2% to $3.3 billion. BNY reported an improved pre-tax margin of 32% and a return on tangible common equity (ROTCE) of 24%.
Looking ahead, Vince acknowledged increasing uncertainty in the operating environment but expressed confidence in the company's position. "Our work to operate BNY as a more platforms-oriented company, combined with our highly capitalized, liquid and lower credit risk balance sheet, positions us to manage dynamically," he stated.
The Board of Directors declared a quarterly dividend of $0.47 per share, payable on May 2, 2025, to shareholders of record as of April 21, 2025.