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Bank of New York Mellon Prepares to Report Q3 Earnings Ahead of Thursday Opening Bell

NeutralMedium impact
BNY$135.78 −3.73%

Bank of New York Mellon Corp (BNY) will publish its third-quarter financial results this Thursday before the market opens. Wall Street expects revenue to grow 9.6% compared to the same period last year, following a previous quarter in which the company reported $5.70 billion in revenue and beat analyst estimates for both sales and earnings per share.

Analysts have maintained their forecasts over the past month, signaling expectations for steady performance heading into the announcement. Early third-quarter releases from capital markets peers present a mixed backdrop. Goldman Sachs reported a 23% increase in revenue to beat estimates by 11.5%, while Jefferies delivered an 8.5% revenue rise that topped forecasts by 1.1%, though its shares fell 1.3% after reporting.

Investors will look to see if the company can maintain its track record of exceeding quarterly consensus numbers. Heading into the report, BNY shares have declined 10.7% over the last month to trade near $141, against an average analyst price target of $163.47.

Key points

  • Bank of New York Mellon Corp (BNY) is scheduled to release its third-quarter earnings this Thursday before the market open.
  • Analysts project third-quarter revenue growth of 9.6% year over year, aligning with estimates from the same period last year.
  • BNY beat expectations in the second quarter with $5.70 billion in revenue, representing a 13.3% year-over-year increase.
  • Shares of BNY have dropped 10.7% over the past month, while average analyst price targets sit at $163.47.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When does Bank of New York Mellon report Q3 earnings?

Bank of New York Mellon will report its third-quarter earnings this Thursday before the stock market opens.

What revenue growth is expected for BNY in Q3?

Analysts expect Bank of New York Mellon revenue to grow 9.6% year on year for the third quarter.

How did BNY perform in the previous quarter?

In the second quarter, Bank of New York Mellon reported $5.70 billion in revenue, up 13.3% year on year, beating analyst estimates for revenue and earnings per share.