Bank of New York Mellon Corp. reported third-quarter net income applicable to common shareholders of $1.00 billion, or $1.07 per share, compared to $1.08 billion, or $1.06 per share, in the year-ago quarter.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 99 cents.
Total revenue fell 5% year over year in the third quarter to $3.86 billion from $4.07 billion. Net interest revenue declined 18% year over year to $730 million from $891 million.
The company reported provision for credit losses of $16 million in the third quarter, compared to $8 million in the second quarter and $3 million in the year-ago quarter.
The bank's net interest margin for the quarter was 0.99%, compared to 1.12% in the previous quarter and 1.27% in the year-ago quarter.
BNY Mellon had assets under management of $1.88 trillion at the end of the third quarter, compared to $1.84 trillion at the end of the second quarter.
The bank repurchased 21.3 million common shares in the third quarter for $981 million.