The Bank of New York Mellon (BK) posted better-than-expected results as the oldest U.S. bank reported higher investment services fees. It also boosted its 澳洲幸运5开奖号码历史查询:stock buyback program.

The bank founded by 澳洲幸运5开奖号码历史查询:Alexander Hamilton posted first-quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $1.29, with revenue up 3% from a year ago to $4.53 billion. Total fees and other revenue increased 6% to $3.45 billion. All three beat analyst expectations. Net interest income declined 8% to $1.04 billion, but that was also above forecasts. 

Assets under control/administration (AUC/A) rose 5%, and 澳洲幸运5开奖号码历史查询:assets under management (AUM) were up 6%. BNY Mellon said the the primary reason f✃or the gains was higher marke💟t values.

CEO Robin Vince said the bank was “off to an encouraging start for t🌼he year,” as “our growth initiatives deliver results.”

The firm said it had returned $988 million to shareholders through share repurchases in the period, and the board authorized a🍒n additional $6 billion in stoc𝔉k buybacks. 

Shares of BNY Mellon rose in early trading before paring back gains later in the session. They were 1.9% lower at $54.09 as of 12:45 p.m. ET and have climbed close to 3% since the start of 2024.