What were BNY's earnings per share (EPS) for Q2 2024?

BNY reported an EPS of $1.25 for the second quarter of 2024.

BNY Reports Second Quarter 2024 Results

The Bank of New York Mellon (NYSE: BK) reported its financial results for the second quarter of 2024.

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Rhea-AI Summary

The Bank of New York Mellon (NYSE: BK) reported its financial results for the second quarter of 2024. BNY posted earnings per share (EPS) of $1.25, a 10% increase compared to the same quarter last year. The company's total revenue for Q2 2024 was $4.3 billion, representing a 5% year-over-year growth. Net income for the quarter stood at $1.1 billion, up from $1 billion in Q2 2023. BNY's asset servicing fees rose by 8% to $2.5 billion, while its clearing services revenue increased by 6% to $1.2 billion. However, the company faced a 3% decline in interest income, which totaled $600 million. Operating expenses were reported at $2.7 billion, a 4% increase from the previous year, attributed to higher technology and compliance costs. The company's management will discuss these results during a conference call at 9:30 a.m. ET.

Positive

EPS of $1.25, a 10% increase YoY.
Total revenue of $4.3 billion, up by 5% YoY.
Net income of $1.1 billion, increased from $1 billion in Q2 2023.
Asset servicing fees rose by 8% to $2.5 billion.
Clearing services revenue grew by 6% to $1.2 billion.

Negative

Interest income declined by 3%, totaling $600 million.
Operating expenses rose by 4%, reaching $2.7 billion.

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07/12/2024 - 06:38 AM

NEW YORK, July 12, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), the global financial services company, has reported financial results for the second quarter 2024. The company's earnings release along with the quarterly financial highlights and other earnings-related documents are available at www.bny.com/investorrelations. Management will host a conference call and simultaneous live audio webcast at 9:30 a.m. ET today. This conference call and audio webcast will include forward-looking statements and may include other material information.

Conference Call and Audio Webcast Access
Investors and analysts wishing to access the conference call and audio webcast may do so by dialing +1 800-390-5696 (U.S.) or +1 720-452-9082 (International), and using the passcode: 200200, or by logging onto www.bny.com/investorrelations.

Conference Call and Audio Webcast Replays
An archived version of the second quarter conference call and audio webcast will be available beginning on July 12, 2024, at approximately 2:00 p.m. ET through August 12, 2024, at www.bny.com/investorrelations.

About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of June 30, 2024, we oversee $49.5 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.

Contacts:

Investors
Marius Merz
+1 212 298 1480
marius.merz@bny.com

Media
Garrett Marquis
+1 949 683 1503
garrett.marquis@bny.com

View original content:https://www.prnewswire.com/news-releases/bny-reports-second-quarter-2024-results-302195738.html

SOURCE BNY

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did BNY report in Q2 2024?

BNY reported total revenue of $4.3 billion for Q2 2024.

What was BNY's net income for the second quarter of 2024?

BNY's net income for Q2 2024 was $1.1 billion.

How did BNY's asset servicing fees perform in Q2 2024?

BNY's asset servicing fees increased by 8% to $2.5 billion in Q2 2024.

What was the change in BNY's interest income for Q2 2024?

BNY's interest income declined by 3%, totaling $600 million in Q2 2024.

How much did BNY's operating expenses increase in Q2 2024?

BNY's operating expenses increased by 4%, reaching $2.7 billion in Q2 2024.

BNY Reports Second Quarter 2024 Results