BNY reports higher Q1 profit; shares fall

BNY BK.N reports higher Q1 profit, helped by higher assets under custody that boosted its fee income

Shares of the New York-based custodian bank, however, fall 1.6% to $75.4 premarket

Co reports adj. profit of $1.58 per share vs. $1.25 per share a year ago

Net interest income rose 11% to $1.16 bln

BK shares are down 0.3% YTD, compared to a 10.4% fall in the S&P 500 .SPX, as of last close; shares rose 47.6% in 2024