BNY Q2 revenue jumps 13% to $5.7 billion

• BNY generated $5.7 billion in second-quarter revenue, representing a 13% increase compared to the previous year.
• The financial institution recorded $1.696 billion in net income and an adjusted earnings per share of $2.45.
• Management stated that net new business, higher market values, and increased client activity drove fee revenue expansion.

BNY (NYSE:BNY) reported second-quarter revenue of $5.7 billion alongside an adjusted earnings per share of $2.45.

This quarterly revenue figure represents a 13% increase from the $5 billion generated during the same period last year.

The company recorded $4 billion in fee revenue and $1.446 billion in net interest income during the second quarter.

Total assets under custody and administration increased 12% year-over-year to $62.6 trillion.

The firm also expanded its total assets under management by 6% to $2.2 trillion during the quarter.