The Bank of New York Mellon Corp. Q2 Profit Drops 4%

(RTTNews) - The Bank of New York Mellon Corp. (BK) released earnings for second quarter that lost ground compared to the same period last year.

The company said its earnings came in at $830 million, or $0.76 per share. This was lower than $868 million, or $0.77 per share, in last year's second quarter.

Analysts had expected the company to earn $0.75 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.8% to $3.77 billion. This was up from $3.74 billion last year.

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

-Earnings (Q2): $830 Mln. vs. $868 Mln. last year. -Earnings Decline (Y-o-Y): -4.4% -EPS (Q2): $0.76 vs. $0.77 last year. -EPS Decline (Y-o-Y): -1.3% -Analysts Estimate: $0.75 -Revenue (Q2): $3.77 Bln vs. $3.74 Bln last year. -Revenue Change (Y-o-Y): 0.8%