Another Flop Earnings Report From A Bank

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Financials continue to be unimpressive this season, this time from Bank of New York.

The trust bank reported EPS of $.50, which is well below estimates of $.57.

Revenue of $3.64 billion was just shy of expectations.

This is consistent with what we’ve seen from a host of other institutions this quarter.

Both fee and interest-based revenue fell from the previous quarter.

We’ll get a much more juicy report form Goldman at 8.

Click here for the full announcement >