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Mar 31, 2023
BNY Mellon Q1 2023 Earnings Report
BNY Mellon delivered solid results driven by revenue growth and expense management.
Key Takeaways
BNY Mellon reported first quarter earnings with a revenue of $4.4 billion, up 11% year-over-year. Net income applicable to common shareholders was $905 million, or $1.12 per common share, up 30%. The company's return on tangible common equity was 20%.
Revenue increased by 11% year-over-year.
Earnings per share increased by 30% year-over-year.
Return on tangible common equity was 20%.
AUC/A increased 2% to $46.6 trillion.
BNY Mellon
BNY Mellon
Forward Guidance
While the company will remain vigilant given the heightened uncertainty in the current environment, they are pushing forward with their strategic agenda to reinvigorate underlying growth by doing more for their clients across their extensive suite of products and services, while driving greater efficiency.