Bank of New York Mellon Earnings Preview: What to Expect

The Bank of New York Mellon Corporation (BK), headquartered in New York, provides a range of financial products and services. Valued at $53.6 billion by market cap, the company provides asset and wealth management, asset servicing, issuer, clearing, and treasury services for institutions, corporations, and high-net-worth individuals. The world's largest custodian bank and securities services company is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Friday, Oct. 11.

Ahead of the event, analysts expect BK to report a profit of $1.38 per share on a diluted basis, up 8.7% from $1.27 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. In the previous quarter, BK maintained a positive operating leverage on the back of solid fee growth and continued expense discipline.