Yahoo Finance Bank of New York Mellon First Quarter 2024 Earnings: Beats Expectations
Bank of New York Mellon (NYSE:BK) First Quarter 2024 Results
Key Financial Results
Revenue: US$4.50b (up 3.8% from 1Q 2023).
Net income: US$953.0m (up 5.3% from 1Q 2023).
Profit margin: 21% (in line with 1Q 2023).
EPS: US$1.26 (up from US$1.13 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of New York Mellon Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%.
Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Capital Markets industry in the US.
Performance of the American Capital Markets industry.
The company's shares are down 2.2% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Bank of New York Mellon's balance sheet.
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