Shares of Bank of New York Mellon (BNY) surged 5.08% intraday on Wednesday, driven by the company's release of second-quarter financial results that significantly exceeded market expectations.
The custodian bank reported adjusted earnings per share of $2.46 for the quarter, handily beating the analyst consensus estimate of $2.22. Revenue reached a record $5.70 billion, surpassing estimates of $5.40 billion, while net interest income jumped 20% year-over-year to $1.45 billion. The strong performance was attributed to higher fee revenue, buoyant market conditions that boosted client activity, and increased asset values.
Furthermore, BNY raised its full-year 2026 revenue growth forecast to 10%-11%, up from its prior outlook of about 5%, signaling strong confidence in its ongoing momentum. In a separate announcement, the company's board declared a 19% increase in the quarterly common stock dividend to $0.63 per share.