BNY Earnings Top Estimates, Boosts NII Outlook for This Year

Bank of New York Mellon Corp.’s second-quarter profit surpassed analyst expectations as the bank continued to reinvest maturing securities at higher yields, fueling a 9% increase in revenue.

The bank reported earnings per share of $1.93, a 27% jump compared with the same period a year earlier, according to a statement. Its net interest income, the difference between what it earns on assets and pays for liabilities, climbed to $1.2 billion, which also topped analyst predictions.