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PrintBank of New York Mellon 1Q earnings rise 72 percent
Thu Apr 17, 2008 6:56 AM EDT
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NEW YORK — Bank of New York Mellon says its first-quarter earnings rose 72 percent due to fee and net interest growth.
The New York-based bank says it earned $746 million, or 65 cents per share. It earned $434 million, or 60 cents per share, during the year-ago period.
Excluding merger costs and other special charges, the bank says it earned 78 cents per share.
Thomson Financial reports analysts expected earnings of 73 cents per share.
The company says asset and wealth management fees increased 5 percent to $842 million, while net interest revenue jumped 39 percent to $773 million.
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