Bank of New York Mellon Q4 Adj $1.28 Beats $1.13 Estimate, Sales $4.31B Beat $4.29B Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of New York Mellon (NYSE:BK) exceeded Q4 earnings and sales estimates with an EPS of $1.28, surpassing the $1.13 forecast, and reported sales of $4.31B, slightly above the $4.29B estimate. However, both earnings and sales saw a slight decrease from the same period last year.
January 12, 2024 | 11:33 am
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Bank of New York Mellon reported better-than-expected Q4 results with an EPS of $1.28 and sales of $4.31B, beating estimates but showing a slight year-over-year decline.
The positive earnings and sales beat are likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price. However, the slight year-over-year decline in both metrics may temper the market's reaction, suggesting a moderate impact rather than a strong one.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100