Northern Trust Misses Expectations; Profit Up Slightly

Northern Trust Corp said on Wednesday that third-quarter net income rose slightly, missing analysts' estimates, as foreign exchange revenue plummeted.

The U.S. custody bank and wealth manager reported net income of $178.8 million, or 73 cents a share, compared with $170 million, or 70 cents a share, in the year-ago period.

Analysts, on average, had been expecting the bank to earn 74 a share, according to Thomson Reuters I/B/E/S.