"U.S. Stocks" State Street's quarterly profit increased by 18%, exceeding expectations, but net interest income fell short of market expectations
Trust bank State Street (STT.US) announced its third-quarter results. The quarterly net profit increased by 18% year-on-year to USD 861 million, with a diluted earnings per share of USD 2.78, exceeding market expectations of USD 2.64.
Quarterly revenue rose by 9% year-on-year to USD 3.545 billion, with net interest income declining by 1% year-on-year to USD 715 million, falling short of market expectations of USD 749 million, while fee income increased by 8% year-on-year to USD 2.829 billion. The scale of assets under custody and management grew by 10% year-on-year to USD 51.7 trillion
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