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Higher Fee Income to Aid BNY Mellon Q2 Earnings, NII to Hurt

The Bank of New York Mellon Corporation (NYSE: BK) is scheduled to report second-quarter 2024 results on Jul 12, before market open. The company's revenues and earnings are expected to have witnessed increases in the quarter on a year-over-year basis. In the last reported quarter, BK's earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by a rise in fee revenues, particularly investment services fees. The assets under custody and/or administration and assets under management balance grew year over year. However, higher expenses and a decline in net interest revenues (NIR) hurt results. BNY Mellon has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with a surprise of 11.8%, on average. The Bank of New York Mellon Corporation Price and EPS Surprise The Bank of New York Mellon Corporation price-eps-surprise | The Bank of New York Mellon Corporation Quote The consensus estimate for the company's second-quarter earnings is pegged at $1.43 per share, which has been revised marginally upward over the past seven days. The consensus estimate indicates a rise of 3.6% from the year-ago quarter's reported number. The consensus estimate for sales is pegged at $4.53 billion, implying a 1.8% rise from the prior-year quarter's reported figure. Key Factors & Estimates for Q2 Fee Revenues: The Zacks Consensus Estimate for total investment services fees (comprising ...