BK Q3 2024 Earnings Report — The Bank of New York Mellon Corporation Revenue & Financial Results | Market Cap Arena

The Bank of New York Mellon CorporationBK

Q3 2024 Earnings

Reported November 1, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2024	Q2 2024	Q3 2023	QoQ Change	YoY Change
Revenue	$10.2B	$9.9B	$8.8B	2.9%	15.0%
Op. Income	$1.5B	$1.5B	$1.3B	-0.1%	14.8%
Gross Margin	44.6%	45.7%	49.0%	-1.1pp	-4.4pp
Net Margin	11.6%	11.8%	11.8%	-0.2pp	-0.1pp
EPS (Diluted)	$1.50	$1.52	$1.22	-1.3%	23.0%
Free Cash Flow	-$687M	$1.7B	$4.7B	-139.3%	-114.6%

Revenue Flow

Item	Amount
REVENUE	$10.2B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.3B
Operating Expenses	$3.0B
Cost & Expenses	$8.6B
OPERATING INCOME	$1.5B
Interest Income	$6.7B
Interest Expense	$5.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$336M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$451M
EBIT	$1.5B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$10.2B
Cost of Revenue	$5.6B
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.7B
SG&A Expenses	$1.7B
Other Expenses	$1.3B
Operating Expenses	$3.0B
Cost & Expenses	$8.6B
OPERATING INCOME	$1.5B
Interest Income	$6.7B
Interest Expense	$5.6B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$336M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$451M
EBIT	$1.5B
EBITDA	$2.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$451M
Stock-Based Compensation	$0
Deferred Income Tax	-$101M
Other Non-Cash Items	$39M
Change in Working Capital	-$1.9B
OPERATING CASH FLOW	-$312M
Capital Expenditure	-$375M
Acquisitions (Net)	$0
Purchases of Investments	-$11.1B
Sales/Maturities of Investments	$9.1B
Other Investing Activities	$12.5B
NET CASH FROM INVESTING	$10.2B
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$725M
Common Dividends Paid	-$353M
Other Financing Activities	-$10.0B
NET CASH FROM FINANCING	-$9.4B
FREE CASH FLOW	-$687M
Net Change in Cash	$506M

Balance Sheet

Item	Amount
Cash & Equivalents	$116.2B
Short-Term Investments	$97.0B
Net Receivables	$7.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$223.5B
PP&E (Net)	$3.4B
Goodwill	$16.3B
Intangible Assets	$5.3B
Long-Term Investments	$167.3B
Tax Assets	$0
Other Non-Current Assets	$11.6B
TOTAL NON-CURRENT ASSETS	$204.0B
TOTAL ASSETS	$427.5B
Account Payables	$19.7B
Short-Term Debt	$14.9B
Deferred Revenue	$0
Other Current Liabilities	$298.4B
TOTAL CURRENT LIABILITIES	$333.0B
Long-Term Debt	$33.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$18.4B
TOTAL NON-CURRENT LIABILITIES	$52.0B
TOTAL LIABILITIES	$385.1B
Common Stock	$14M
Additional Paid-In Capital	$29.2B
Retained Earnings	$41.8B
Treasury Stock	-$29.5B
Accum. Other Comp. Income	-$3.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$42.0B
Minority Interest	$398M
TOTAL EQUITY	$42.4B
TOTAL LIABILITIES & EQUITY	$427.5B
Total Debt	$48.5B
Net Debt	-$67.7B