State Street Corporation (STT) announced its third-quarter earnings, demonstrating a significant increase compared to the previous year and surpassing analysts' expectations.
For this quarter, the company reported a net income of $730 million, equivalent to $2.26 per share, compared to $422 million, or $1.25 per share, in the third quarter of the prior year. Excluding certain items, State Street Corporation's adjusted earnings stood at $682 million, or $2.26 per share for the same period.
Market analysts, as aggregated by Thomson Reuters, had anticipated earnings of $2.12 per share, typically excluding special items in their forecasts.
In terms of revenue, State Street Corporation experienced a 21.1% growth, reaching $3.259 billion, up from $2.691 billion in the same quarter last year.
Highlights of State Street Corporation's GAAP earnings for Q3 include:
- Earnings: $730 million compared to $422 million in the previous year.
- Earnings per Share (EPS): $2.26 versus $1.25 in the prior year.
- Revenue: $3.259 billion compared to $2.691 billion in the previous year.
