The Bank of New York Mellon Corp. Q3 Profit Increases, beats estimates

(RTTNews) - The Bank of New York Mellon Corp. (BK) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $956 million, or $1.22 per share. This compares with $319 million, or $0.39 per share, in last year's third quarter.

Excluding items, The Bank of New York Mellon Corp. reported adjusted earnings of $992 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.1% to $4.37 billion from $4.28 billion last year.

The Bank of New York Mellon Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $956 Mln. vs. $319 Mln. last year. -EPS (Q3): $1.22 vs. $0.39 last year. -Analyst Estimate: $1.15 -Revenue (Q3): $4.37 Bln vs. $4.28 Bln last year.