Bank of New York Mellon Corp. BK, +4.79% shares rose 3.4% in premarket trades Monday after the financial firm topped third-quarter analyst estimates for revenue and adjusted profit. Bank of New York Mellon said its third-quarter net income fell 62% to $319 million, or 39 cents a share, from $881 million, or $1.09 a share, in the year-ago quarter. Breaking out goodwill impairment charges and a $45 million in costs mostly related to litigation, Bank of America earned $1.21 a share. Revenue rose 6% to $4.3 billion. Wall Street analysts expected BNY to earn $1.10 a share on revenue of $4.19 billion, according to estimates compiled by FactSet. Return on equity excluding notable items was 22%. CEO Robin Vince said the bank’s performance benefitted from higher interest rates and “continued strength in client volumes and balances” in its Securities Services unit and its Market and Wealth Services business.
