Bank of New York Mellon (N:BK) on Tuesday said third-quarter profit fell 23% compared with the year-ago quarter that included one-time gains, but said its noninterest expenses fell.
The bank reported a third quarter profit of $820 million, or 74 cents a share, down from $1.07 billion, or 93 cents, a year earlier.
The year-ago period included a gain from the sale of its One Wall Street building and its stake in Hong Kong bank Wing Hang Bank. Excluding those items, per-share profit rose to 74 cents from 64 cents.
Analysts had expected the bank to report earnings of 71 cents per share.
BNY Mellon shares were inactive premarket.