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Bank of New York Mellon Stock Jumps as Earnings, Revenue Beat

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Bank of New York Mellon reported earnings of $1.22 a share on revenue of $4.4 billion in the third quarter.

Bank of New York Mellon continues to benefit from an environment of higher interest rates, with the bank being the latest lender to beat earnings expectations amid a surge in net interest revenue.

Shares in the bank advanced 0.5% in premarket trading on Tuesday, paring gains after the stock initially jumped more than 2%.

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