BNY Mellon revenue falls 1 percent; tax case trigg
Post# of 28526
Posted On: 04/17/2013 8:00:08 AM
BNY Mellon revenue falls 1 percent; tax case triggers loss
(Reuters) - BNY Mellon Corp said on Wednesday that first-quarter revenue fell 1 percent as the world's largest custody bank reported a loss due to a high-stakes tax battle with the U.S. Internal Revenue Service. BNY Mellon's net loss of $266 million, or 23 cents a share, reflected a U.S. Tax Court decision announced in February that triggered a previously announced $854 million charge against profits. In the year-earlier quarter, BNY Mellon reported net income of $619 million, or 52 cents a share. ...
(0)
(0)
test
Scroll down for more posts ▼