BNY posts 12% revenue growth and 24% EPS jump in third quarter

The custody giant's earnings growth outpaced pre-report expectations, days after it settled a tokenized Treasury repo trade with Citadel Securities BNY just reported a third quarter that should make its investors comfortable. Revenue rose 12% from a year earlier, and earnings per share grew 24%. The revenue figure landed at the top of the range analysts had sketched out before the release. Consensus called for third-quarter revenue of roughly $5.56 billion. That implied year-over-year growth between 9.5% and 12%. The earnings line is where things get more interesting. The consensus EPS estimate sat at $2.26, which would have marked an increase of about 18% from the prior year. BNY reported 24% EPS growth instead. Heading into the report, expectations credited the anticipated growth to fee income, particularly from investment services.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Crypto Briefing.