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Bank of New York Mellon posts 1Q profit

NEW YORK (AP) -- Bank Of New York Mellon Corp. on Thursday reported first-quarter earnings of $880 million.

The bank, based in New York, said it had earnings of 83 cents per share. Earnings, adjusted for non-recurring gains, were 80 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 80 cents per share.

The trust bank posted revenue of $3.84 billion in the period. Its adjusted revenue was $3.82 billion.

Shares fell 71 cents to $46.15 in morning trading.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BK at https://www.zacks.com/ap/BK


Keywords: Bank of New York Mellon, Earnings Report