Bank of New York Mellon Third Quarter 2024 Earnings: Beats Expectations

Bank of New York Mellon (NYSE:BK) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$4.63b (up 5.8% from 3Q 2023).
• Net income: US$1.11b (up 16% from 3Q 2023).
• Profit margin: 24% (up from 22% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.51 (up from US$1.23 in 3Q 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 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 6.2%.

Looking ahead, revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are up 3.0% 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. See our latest analysis on Bank of New York Mellon's balance sheet health.

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