Bank of New York Mellon Fourth Quarter Earnings Sneak Peek
S&P 500 (NYSE:SPY) component Bank of New York Mellon (NYSE:BK) will unveil its latest earnings tomorrow, Wednesday, January 16, 2013. The Bank of New York Mellon is a global financial services company offering various products and services for individuals and institutions. The main activities of the company and its subsidiaries include asset management, wealth management, and broker-dealer and advisory services.
Bank of New York Mellon Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 54 cents per share, a rise of 12.5% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 56 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 55 cents during the last month. Analysts are projecting profit to rise by 1.4% compared to last year’s $2.06.
Past Earnings Performance: Last quarter, the company reported net income of 63 cents per share versus a mean estimate of profit of. The company has beaten estimates for the past three quarters.
A Look Back: In the third quarter, profit rose 11.4% to $725 million (61 cents a share) from $651 million (53 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 1.1% to $3.8 billion from $3.85 billion.
Here’s how Bank of New York Mellon traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: