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Northern Trust profit, revenue miss estimates
January 16, 2013 / 1:00 PM / 5 years ago

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.

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