Bank of New York Mellon (BK) – Get Report shares fell on Wednesday after the banking company reported declines in fourth-quarter earnings and revenue that stemmed from low interest rates.
Net income fell to $755 million, or 79 cents a share, from $1.45 billion, or $1.52, in the year-earlier quarter. Adjusted earnings per share totaled 96 cents, down from $1.01.
Revenue dropped 20% to $3.84 billion from $4.78 billion a year earlier.
