BNY Earnings: Continued Strong Operating Leverage; Little Said on Potential Large Acquisition

Bank of New York Mellon reported 9% revenue growth and 4% expense growth, resulting in 20% pretax income growth. The firm raised its net interest income outlook for 2025 to high-single-digit growth from mid-single-digit growth but also raised its expense outlook to about 3% from a range of 1% to 2%.