Bank of New York Mellon Corp. reported a drop in net interest revenue in the second quarter and warned that the trend may continue in the months to come, sending shares of the custody bank lower Wednesday. The New York City-based investment-management firm said its net revenue from interest decreased to $780 million, a 3% fall from last year’s level. Analysts’ consensus had forecast net interest revenue of $792.3 million, according to FactSet.

Source: Wall Street Journal July 15, 2020 16:52 UTC