RTTNews | Jan 20, 2021 06:42AM EST

06:42 Wednesday, January 20, 2021 (RTTNews.com) - Bank of New York Mellon Corp. (BK) reported Wednesday that net income applicable to common shareholders for the fourth quarter halved to $702 million or $0.79 per share from $1.39 billion or $1.52 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter were $861 million or $0.96 per share, compared to $931 million or $1.01 per share in the year-ago quarter.

Total revenue for the quarter decreased 20 percent to $3.84 billion from $4.78 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.91 per share on revenue of $3.83 billion for the quarter. Analysts' estimates typically exclude certain special items.

Read the original article on RTTNews ( https://www.rttnews.com/3161796/bny-mellon-q4-profit-halves-but-results-top-estimates-quick-facts.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved