The Bank of New York Mellon Corporation (NYSE:BK) reported first-quarter 2026 results on Thursday that came in ahead of analyst forecasts, posting adjusted earnings per share of $2.25 compared with expectations of $1.93, while revenue reached $5.41 billion versus a $5.17 billion consensus.
Shares of the bank rose 0.30% following the release.
The company delivered record quarterly revenue of $5.41 billion, marking a 13% increase from $4.79 billion in the same period last year.
Fee income climbed 11% year on year to $3.77 billion, supported by stronger client activity, new business inflows, higher market valuations and increased foreign exchange revenues.
Net interest income rose 18% to $1.37 billion, driven by reinvestment into higher-yielding securities and overall balance sheet expansion, although partially offset by pressure on deposit margins.
Adjusted earnings per share grew 42% from $1.58 a year earlier to $2.25. The bank reported a pre-tax operating margin of 37%, up from 32% in the first quarter of 2025, and achieved a return on tangible common equity of 29.3%.
“BNY had a strong start to 2026 with record revenue of $5.4 billion in the first quarter, up 13% year-over-year, reflecting broad-based growth across our Securities Services and Market and Wealth Services businesses,” said Robin Vince, Chief Executive Officer.
Assets under custody and administration rose 12% year on year to $59.4 trillion, while assets under management increased 6% to $2.1 trillion.
During the quarter, the company returned $1.4 billion to shareholders, including $376 million in dividends and $983 million through share buybacks.
Noninterest expenses increased 5% to $3.40 billion, reflecting higher investment spending and revenue-linked costs, as well as the impact of a weaker U.S. dollar and employee pay increases, partly offset by efficiency initiatives.