Bank of New York Mellon Corp
BNY: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|w> | LOCK|#!z | LOCK|YzTRWR |
BNY Earnings: Very Strong Quarter Amid Favorable Operating Environment
The Bank of New York Mellon reported strong second-quarter results with 13% revenue growth and 7% adjusted expense growth. This led to 22% adjusted net income growth, with returns on tangible common equity rising to 31% versus 29% in the first quarter. Shares rose 3% in July 15 intraday trading.
