Northern Trust profit, revenue miss estimates
Jan 16 (Reuters) - Northern Trust Corp's profit for the fourth quarter rose but missed Wall Street estimates due to much lower foreign-exchange trading income.
Net income in the quarter rose to $167.7 million, or 69 cents per share, from $130.2 million, or 53 cents per share, a year earlier.
Total revenue climbed 1 percent to $969.7 million.
Analysts on average had expected earnings of 75 cents per share on revenue of $985.1 million, according to Thomson Reuters I/B/E/S.
Foreign-exchange trading income fell 40 percent to $40.8 million, mainly due to reduced currency market volatility.
- Tweet this
- Share this
- Digg this