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Dec 31, 2023
BNY Mellon Q4 2023 Earnings Report
Reported earnings per common share of $0.33, or $1.28 as adjusted, for the fourth quarter of 2023.
Key Takeaways
BNY Mellon's fourth quarter results reflect a complex operating environment with total revenue of $4.3 billion and diluted EPS of $0.33. The company's performance was impacted by notable items including FDIC special assessment, severance and litigation reserves, and a fair value adjustment. Despite these challenges, BNY Mellon exceeded its initial financial outlook and is setting improved targets for the future.
Total revenue reached $4.3 billion, a 10% increase year-over-year, or 2% excluding notable items.
Diluted EPS was reported at $0.33, a 47% decrease year-over-year, or a 2% decrease excluding notable items.
Noninterest expense amounted to $3.9 billion, a 20% increase year-over-year, or 4% excluding notable items.
The company returned $778 million of capital to common shareholders through dividends and share repurchases.
Forward Guidance
BNY Mellon announced further improved financial targets for each of its business segments and the firm overall in the medium-term.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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