Bank of New York Mellon Financial Corp. reported Tuesday that its fourth-quarter net income sank 95% from a year earlier, to $28 million, or 2 cents a share, on losses related to investments and a severance charge.

The company, which reported its earnings two days early, said that excluding certain one-time charges and expenses, it earned $53 million, or 5 cents a share. A year earlier it earned $700 million, or 61 cents a share. Analysts on average had expected earnings of 69 cents a share, according to Thomson Reuters.

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