BNY Mellon's (BK) Q1 Earnings Beat, AUM & Fee Income Rise

The Bank of New York Mellon Corporation’s (BK) first-quarter 2024 adjusted earnings of $1.29 per share handily outpaced the Zacks Consensus Estimate of$1.19. Also, the figure reflected a rise of 14% from the prior-year quarter.Further, BK’s total revenues grew 3% year over year to $4.53 billion. The top line also beat the Zacks Consensus Estimate of$4.38 billion.The primary driver for the increase in top line was an improvement in fee income and assets under custody and/or administration (AUC/A) and asset ...