The Bank of New York Mellon Corp. Announces Fall In Q1 Bottom Line, but beats estimates

(RTTNews) - The Bank of New York Mellon Corp. (BK) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $699 million, or $0.86 per share. This compares with $858 million, or $0.97 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.3% to $3.93 billion from $3.92 billion last year.

The Bank of New York Mellon Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $699 Mln. vs. $858 Mln. last year. -EPS (Q1): $0.86 vs. $0.97 last year. -Analyst Estimates: $0.85 -Revenue (Q1): $3.93 Bln vs. $3.92 Bln last year.