The Bank of New York Mellon Corp. Q1 Profit Advances 7%

(RTTNews) - The Bank of New York Mellon Corp. (BK) announced earnings for its first quarter that gained ground compared to the same period last year.

The company said its bottom line climbed to $814 million, or $0.74 per share. This was higher than $764 million, or $0.67 per share, in last year's first quarter.

Analysts had expected the company to earn $0.68 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.5% to $3.74 billion. This was down from $3.76 billion last year.

The Bank of New York Mellon Corp. earnings at a glance:

-Earnings (Q1): $814 Mln. vs. $764 Mln. last year. -Earnings Growth (Y-o-Y): 6.5% -EPS (Q1): $0.74 vs. $0.67 last year. -EPS Growth (Y-o-Y): 10.4% -Analysts Estimate: $0.68 -Revenue (Q1): $3.74 Bln vs. $3.76 Bln last year. -Revenue Change (Y-o-Y): -0.5%