The Bank of New York Mellon Corporation reported robust financial results for the third quarter of 2024, with adjusted earnings per share (EPS) of $1.52, marking a 20% increase year-over-year and surpassing analyst expectations of $1.42. Quarterly revenue reached $4.648 billion, a 5% increase from the prior year, also exceeding the analyst consensus of $4.542 billion.
A significant highlight for the quarter was the achievement of a record $50 trillion in assets under custody and administration (AUC/A), demonstrating the company's expanding market presence and client trust. Net interest income (NII) saw a 3% rise year-over-year, while fee income soared by 5%, contributing to the overall strong revenue growth.
These results reflect BNY Mellon's successful execution of its strategic initiatives and its ability to capitalize on market conditions. The strong performance across key financial metrics, coupled with record AUC/A, indicates healthy business momentum and a solid foundation for future growth, reinforcing its position as a leading global financial services company.
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