State Street (STT) Tops Q1 EPS by 8c
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State Street Reports First-Quarter 2016 GAAP-Basis EPS of $0.79 on Revenue of $2.5 Billion
April 27, 2016 7:01 AM EDTFirst-quarter 2016 operating-basis(a) EPS was $0.98, on revenue of $2.6 billion
BOSTON--(BUSINESS WIRE)-- In announcing today's financial results, Joseph L. Hooley, State Street's Chairman and Chief Executive Officer said, Our first quarter 2016 fee revenues reflect the challenging market environment experienced at the beginning of the year. However, I am encouraged by the signs of stability in March and the strength of our pipeline across the firm. The first quarter included new asset servicing wins of $264 billion, with approximately $400 billion of servicing commitments remaining at quarter-end to be installed from current and prior periods. In... More
