The Bank of New York Mellon on Wall Street, New York. Scott Mlyn | CNBC Bank of New York Mellon missed analysts’ estimates for quarterly profit on Thursday, as the world’s largest custodian bank earned less from its interest-earning assets due to rate cuts by the Federal Reserve. Big U.S. banks that reported results earlier
Earnings
Laurence “Larry” Fink, chairman and chief executive officer of BlackRock. Chris Goodney | Bloomberg | Getty Images BlackRock, the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday, helped by strong flows into its exchange-traded fund business that boosted overall assets under management to a record $7.43 trillion. A rally in global
Bank of America on Wednesday posted profit that exceeded analysts’ expectations on a rebound in trading revenue and as the company repurchased shares. The bank said fourth-quarter profit was $7 billion, a 4% decline from a year earlier. But earnings per share were 74 cents, an unexpected 6% increase, helped by a reduction in outstanding shares.
Goldman Sachs beat analysts’ estimates for revenue as the bank joined its Wall Street rivals in posting sharply higher fourth-quarter bond trading results. The bank on Wednesday posted quarterly revenue of $9.96 billion, a 23% increase that exceeding the $8.51 billion estimate by more than $1 billion. The New York-based bank’s global markets division, by far
Citigroup reported Tuesday quarterly results that easily beat analyst expectations, driven by strong fixed-income trading revenues along with growing sales from the bank’s consumer business. Here’s what the banking giant reported vs. what Wall Street analysts expected: Earnings: $1.90 per share vs. $1.84 per share expected by Refinitiv Revenue: $18.378 billion vs. Refinitiv forecast of