(Bloomberg) -- Northern Trust Corp., the third- biggest independent U.S. custody bank, said second-quarter profit rose a smaller-than-expected 6.2 percent as stock-market gains boosted the value of assets the company oversees.

Net income increased to $187.9 million, or 78 cents a share, from $176.9 million, or 73 cents, a year earlier, the Chicago-based company said today in a statement. Results missed the 83-cent average estimate of 15 analysts surveyed by Bloomberg.

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