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Bank of New York Mellon Corporation (NYSE: BK ) reported a rise in fourth-quarter earnings, while the financial services provider’s profit fell 2%.
Net income, adjusted for special items, was $1.30 per share in the last three months of fiscal 2022, higher than the $1.04/share profit reported in the same period last year. Meanwhile, unadjusted net income attributable to common shareholders decreased to $509 million or $0.62 per share from $822 million or $1.01 per share.
Fourth quarter revenue was $3.92 billion, down 2% from the year-ago quarter. Assets under management fell 25% year over year to $1.8 trillion, mainly due to lower market value, the unexpected impact of a stronger US dollar, and the Alcentra divestment, partially offset by net inflows.
Previous Performance
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