20.07.2019, 21:10
State Street (STT) Q2 Earnings Beat, Revenues & Costs Down
Financial | Asset Management | USA
State Street’s STT second-quarter 2019 adjusted earnings of $1.45 per share beat the Zacks Consensus Estimate of $1.40. However, the figure was 28.9% below the prior-year quarter level.
The stock jumped 6.4% in pre-market trading, perhaps driven by success of the company’s expense saving efforts. Notably, the full-day trading session will depict a better picture.
Results reflect fall in operating expenses, new investment servicing wins of $390 billion and rise in assets under management (AUM) balance. However, lower revenues, and decline in assets under custody and administration were on the downside.
After considering several non-recurring items, net income available to common shareholders was $537 million or $1.42 per share, down from $697 million or $1.88 per share in the year-ago quarter.
Revenues Down, Adjusted Expenses Rise
Total revenues were $2.87 billion, decreasing 2% year over year. However, the top line beat the Zacks Consensus Estimate of $2.85 billion.
...
https://finance.yahoo.com/news/state-str...01056.html
![[Bild: STTc1dl1509.png]](https://finviz.com/publish/072019/STTc1dl1509.png)
Financial | Asset Management | USA
State Street’s STT second-quarter 2019 adjusted earnings of $1.45 per share beat the Zacks Consensus Estimate of $1.40. However, the figure was 28.9% below the prior-year quarter level.
The stock jumped 6.4% in pre-market trading, perhaps driven by success of the company’s expense saving efforts. Notably, the full-day trading session will depict a better picture.
Results reflect fall in operating expenses, new investment servicing wins of $390 billion and rise in assets under management (AUM) balance. However, lower revenues, and decline in assets under custody and administration were on the downside.
After considering several non-recurring items, net income available to common shareholders was $537 million or $1.42 per share, down from $697 million or $1.88 per share in the year-ago quarter.
Revenues Down, Adjusted Expenses Rise
Total revenues were $2.87 billion, decreasing 2% year over year. However, the top line beat the Zacks Consensus Estimate of $2.85 billion.
...
https://finance.yahoo.com/news/state-str...01056.html
![[Bild: STTc1dl1716.png]](https://finviz.com/publish/011720/STTc1dl1716.png)