5 Earnings Reports Everyone is Talking About

In this article, we discuss the 5 earnings reports everyone is talking about. If you want to read our detailed analysis of these companies, go directly to the 10 Earnings Reports Everyone is Talking About.

5. The Bank of New York Mellon Corporation (NYSE:BK)

Number of Hedge Fund Holders: 52

Shares of The Bank of New York Mellon Corporation (NYSE:BK) slightly moved up on Tuesday, 19 October 2021, after announcing better-than-expected financial results for the third quarter.

The provider of investment management services reported earnings of $1.04 per share, up from 98 cents per share in the comparable quarter of 2020. Revenue increased nearly five percent on a year-over-year basis to $4.04 billion. Analysts were expecting The Bank of New York Mellon Corporation (NYSE:BK) to report earnings of $1.01 per share on revenue of $3.95 billion.

On the downside, net interest revenue slipped to $641 million, compared to $703 million in the year-ago quarter. The drop was mainly attributed to weak interest rates. The Bank of New York Mellon Corporation (NYSE:BK) also reported that it repurchased 38.1 million shares of its common stock for $2 billion during the quarter.

Speaking on the results, CEO Todd Gibbons said:

“Our financial performance this quarter reflects healthy and broad-based organic growth across our businesses as well as a supportive global markets backdrop.”