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The Bank of New York Mellon (BK) Reports Q2 Earnings: What Key Metrics Have to Say
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The Bank of New York Mellon Corporation (BK - Free Report) reported $4.6 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.2%. EPS of $1.51 for the same period compares to $1.38 a year ago.
The reported revenue represents a surprise of +1.25% over the Zacks Consensus Estimate of $4.54 billion. With the consensus EPS estimate being $1.43, the EPS surprise was +5.59%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Bank of New York Mellon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total interest-earning assets - Average balance: $353.63 billion versus $350.49 billion estimated by five analysts on average.
Net Interest Margin (FTE Basis): 1.2% compared to the 1.2% average estimate based on five analysts.
Tier 1 Leverage Ratio: 5.8% versus the four-analyst average estimate of 5.9%.
Tier 1 Capital Ratio (Standardized Approach): 14.1% versus the three-analyst average estimate of 13.6%.
Revenues- Market and Wealth Services- Total Revenue: $1.54 billion compared to the $1.47 billion average estimate based on two analysts. The reported number represents a change of +6.2% year over year.
Revenues- Securities Services- Total Fee and Other Revenue: $1.64 billion versus the two-analyst average estimate of $1.58 billion. The reported number represents a year-over-year change of +4.6%.
Revenues- Securities Services- Net Interest Revenue: $595 million compared to the $571.28 million average estimate based on two analysts. The reported number represents a change of -10.9% year over year.
Revenues- Securities Services- Total Revenue: $2.24 billion compared to the $2.16 billion average estimate based on two analysts. The reported number represents a change of 0% year over year.
Revenues- Other Segment- Total Fee and Other Revenue: $25 million versus $48.86 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -238.9% change.
Revenues- Market and Wealth Services- Total Fee and Other Revenue: $1.12 billion versus the two-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +9.1%.
Revenues- Investment and Wealth Management- Net Interest Revenue: $43 million versus the two-analyst average estimate of $38.11 million. The reported number represents a year-over-year change of +10.3%.
Revenues- Investment and Wealth Management- Total Fee and Other Revenue: $778 million versus the two-analyst average estimate of $811.16 million. The reported number represents a year-over-year change of +0.5%.
Shares of The Bank of New York Mellon have returned +5.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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The Bank of New York Mellon (BK) Reports Q2 Earnings: What Key Metrics Have to Say
The Bank of New York Mellon Corporation (BK - Free Report) reported $4.6 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 3.2%. EPS of $1.51 for the same period compares to $1.38 a year ago.
The reported revenue represents a surprise of +1.25% over the Zacks Consensus Estimate of $4.54 billion. With the consensus EPS estimate being $1.43, the EPS surprise was +5.59%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how The Bank of New York Mellon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total interest-earning assets - Average balance: $353.63 billion versus $350.49 billion estimated by five analysts on average.
- Net Interest Margin (FTE Basis): 1.2% compared to the 1.2% average estimate based on five analysts.
- Tier 1 Leverage Ratio: 5.8% versus the four-analyst average estimate of 5.9%.
- Tier 1 Capital Ratio (Standardized Approach): 14.1% versus the three-analyst average estimate of 13.6%.
- Revenues- Market and Wealth Services- Total Revenue: $1.54 billion compared to the $1.47 billion average estimate based on two analysts. The reported number represents a change of +6.2% year over year.
- Revenues- Securities Services- Total Fee and Other Revenue: $1.64 billion versus the two-analyst average estimate of $1.58 billion. The reported number represents a year-over-year change of +4.6%.
- Revenues- Securities Services- Net Interest Revenue: $595 million compared to the $571.28 million average estimate based on two analysts. The reported number represents a change of -10.9% year over year.
- Revenues- Securities Services- Total Revenue: $2.24 billion compared to the $2.16 billion average estimate based on two analysts. The reported number represents a change of 0% year over year.
- Revenues- Other Segment- Total Fee and Other Revenue: $25 million versus $48.86 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -238.9% change.
- Revenues- Market and Wealth Services- Total Fee and Other Revenue: $1.12 billion versus the two-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +9.1%.
- Revenues- Investment and Wealth Management- Net Interest Revenue: $43 million versus the two-analyst average estimate of $38.11 million. The reported number represents a year-over-year change of +10.3%.
- Revenues- Investment and Wealth Management- Total Fee and Other Revenue: $778 million versus the two-analyst average estimate of $811.16 million. The reported number represents a year-over-year change of +0.5%.
View all Key Company Metrics for The Bank of New York Mellon here>>>Shares of The Bank of New York Mellon have returned +5.1% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.