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Bank of New York Mellon Q4: AUC/A slips by 1% to $33.1T

Jan. 16, 2019 8:26 AM ETThe Bank of New York Mellon Corporation (BK) StockBy: Liz Kiesche, SA News Editor
  • Bank of New York Mellon (NYSE:BK) Q4 adjusted EPS of 99 cents increases from 91 cents a year ago; beats consensus by 7 cents.
  • BK +0.7% in premarket trading.
  • Q4 total revenue of $4.0B fell 1%, when excluding notable items; misses consensus by $20M.
  • Assets under custody and/or administration of $33.1T decreased by 1%, primarily reflecting lower market values and the unfavorable impact of a stronger dollar, partly offset by net new business.
  • Assets under management of $1.7T decreased 9%, primarily reflecting the unfavorable impact of a stronger U.S. dollar, lower market values, net outflows, the divestiture of CenterSquare Investment Management, and other changes.
  • Previously: Bank of New York Mellon beats by $0.07, misses on revenue (Jan. 16)

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The Bank of New York Mellon Corporation