Reuters: BNY Mellon earnings jump - Spear's Magazine

Reuters: BNY Mellon earnings jump

BNY Mellon, one of the world’s largest custody banks, said earnings from continuing operations jumped to $712 million from $50 million a year earlier.

BNY Mellon, one of the world’s largest custody banks, said earnings from continuing operations jumped to $712 million from $50 million a year earlier.

Income per share was 59 cents, including a tax benefit of 4 cents. Analysts’ average forecast was 51 cents before any tax benefit, according to Thomson Reuters I/B/E/S.

Including discontinued operations, the company earned 49 cents a share.

In the year-earlier quarter, securities writedowns due to frozen credit markets reduced earnings from continuing operations by 65 cents per share.

The latest results included restructuring charges of $139 million, or 7 cents per share, mainly tied to severance costs. Headcount on December 31 was 42,200, down 300 from a year earlier.

To read the full story, visit reuters.com



 

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