Finance
BNY Mellon’s Revenue Beats Estimates on Investment Fee Growth
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The Bank of New York Mellon Corp. reported first-quarter revenue that topped estimates as the oldest US lender benefited from higher market values and increased client activity.
Total revenue rose 2.5% to $4.5 billion in the three months through March from a year earlier, exceeding the $4.4 billion estimated by analysts tracked by Bloomberg. Total fees and other revenue climbed about 6% to $3.49 billion for the quarter, also beating expectations.