Bank of New York Mellon Corp
BNY: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|l^ | LOCK|c$& | LOCK|>#pKXL |
BNY Earnings: Higher Markets Lead to Continued Operating Leverage; Uncertainty Rating Changed
The Bank of New York Mellon reported 9% adjusted revenue growth (fee income up 6%, net interest income up 18%) and adjusted expense growth of 4% in the third quarter versus the year-ago quarter. As a result of this operating leverage, adjusted pretax income rose 21%.
