Bank of New York Mellon (BK), or BNY, shares advanced 6% Wednesday morning as the financial firm posted better-than-expected results on higher fee revenue and lower costs.

The bank reported fourth-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.72, with revenue jumping 11% year-over-year to $4.85 billion. Both exceeded consensus estimates of analysts polled by Vis🃏ible Alpha.

Fee revenue grew 9% to $3.51 billion on higher market value♔s and client activity, net nཧew business, and higher foreign exchange revenue. Net interest income rose 8% to $1.19 billion, primarily because of higher investment securities portfolio yields and balance sheet expansion.

Non-interest e🍷xpenses tumbled 16% to $3.36 billion.

CEO Says BNY 'On the Right Path'

CEO Robin Vince explained that🦹 BNY enters 2025 "with strong momentum, on the right path to unlock the opportunity embedded in our company."

Shares of BNY have risen more than 45% over the past year.