The Bank of New York Mellon Corporation (BK) Surpasses Q1 Earnings and Revenue Estimates

Core Viewpoint - The Bank of New York Mellon Corporation reported quarterly earnings of $1.58 per share, exceeding the Zacks Consensus Estimate of$1.49 per share, and showing an increase from $1.29 per share a year ago, indicating a positive earnings surprise of 6.04$4.79 billion, surpassing the Zacks Consensus Estimate by 1.25%, and up from $4.53 billion year-over-year [2] - The company has consistently topped consensus revenue estimates over the last four quarters [2] Group 2: Stock Performance and Outlook - The stock has declined approximately 0.3$1.75 on revenues of $4.83 billion, and for the current fiscal year, it is$6.81 on revenues of $19.26 billion [7] - The Zacks Rank for the stock is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Industry Context - The Banks - Major Regional industry is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]