BNY Mellon reports Q2 EPS $1.01, consensus 95c
Reports Q2 revenue $3.92B, consensus $3.93B. Reports Q2 CET1 capital ratio 11.2%. Reports Q2 book value per share $40.30. "The impact of the level and shape of the yield curve, as well as continued low levels of volatility and muted market activity, negatively impacted our results. This was partially offset by a decline in expenses as we continue to manage the company prudently - even more so, given the current environment. Market conditions drove a decline in foreign exchange and securities lending activities within Asset Servicing while prior-year outflows and divestitures negatively impacted Asset Management. However, we saw fee growth in Issuer Services, Clearance and Collateral Management and Pershing," Charlie Scharf, chairman and CEO, said.