State Street (STT) Tops Q2 EPS by 10c, Miss on Revenues
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State Street (NYSE: STT) reported Q2 EPS of $1.67, $0.10 better than the analyst estimate of $1.57. Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $2.86 billion.
2Q17 GAAP-Basis Revenue and Fee Revenue up 9% Compared to 2Q16, Reflecting Higher Equity Markets and New Client Business Momentum
2Q17 GAAP-Basis Pre-Tax Margin of 27.6% and Fee Operating Leverage of -32 Basis Points, Tempered by Restructuring Costs of $0.11 Per Share
On an operating-basis, results for 2Q17 compared to 2Q16 include:
- EPS was $1.67, up 14%
- ROE of 13.7%, up 140 basis points
- Revenue up 10%; and Fee revenue up 9%
- Fee operating leverage of 189 basis points
- Pre-tax operating margin of 33.3%, up 180 basis points
For earnings history and earnings-related data on State Street (STT) click here.
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