BNY Posts 12% Third-Quarter Revenue Growth as Diluted EPS Rises 24%

The Bank of New York Mellon Corporation (BNY) posted a 12% increase in third-quarter revenue to $5.676 billion, while diluted earnings per share climbed 24% to $2.34. BNY shares rose about 3% in regular trading Oct. 15, following a roughly 2.4% decline in the prior session. Diluted EPS was up from $1.88 a year earlier, while revenue increased from $5.081 billion. Fee revenue grew 12% to $4.078 billion, and net interest income rose 15% to $1.423 billion. New business, client activity and higher market values supported fee revenue. Reinvestments at higher yields and balance-sheet growth lifted net interest income, although tighter deposit margins offset part of the increase. Investment and other revenue declined to $175 million from $208 million a year earlier.

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