(Bloomberg) -- Northern Trust Corp., the third- biggest independent U.S. custody bank, said first-quarter profit rose 1.7 percent as stock-market gains boosted the value of assets the company oversees.
Net income increased to $164 million, or 67 cents per diluted share, from $161.2 million, or 66 cents a share, a year earlier, the Chicago-based company said today in a statement. Results missed the 72-cent average estimate of 16 analysts surveyed by Bloomberg.
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