BNY Mellon (BK) Q4 Earnings Top Estimates, AUM Increase Y/Y

Bank of New York Mellon Corporation’s (BK) fourth-quarter 2023 adjusted earnings of $1.28 per share surpassed the Zacks Consensus Estimate of $1.12. However, the bottom line reflects a fall of 1.5% from the prior-year quarter.Results have been primarily aided by a rise in net interest revenues and fee revenues. The assets under management (AUM) balance witnessed a rise, which was another major positive for the company. However, higher expenses have hurt the results to some extent. Also, the credit quality w ...