- BNY reported Q3 revenue of $5.7B, up 12% YoY, versus the $5.5B consensus compiled by LSEG. This marks its 15th consecutive quarter of YoY revenue growth.
- Adjusted EPS rose 24% to $2.37 versus $2.27 expected, excluding a 3-cent-per-share severance expense.
- Fee-based revenue grew 12% YoY, and net interest income rose 15% YoY as securities were reinvested at higher yields.
- CET1 ratio was 10.9%, a bit below expectations and well above the Federal Reserve's 8.5% minimum. BNY returned $1.4B to shareholders in the quarter.
- BNY stock moved from flat to up more than 3% on the day following the results and post-earnings call.
Quotes
“Bank of New York on Thursday delivered top- and bottom-line beats”
“we think the results point to any weakness as a buying opportunity for those able to stomach increased volatility”
“Non-GAAP EPS $2.37 beat by $0.11”