State Street (STT) Tops Q4 EPS by 11c
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State Street Reports Fourth-Quarter 2016 GAAP-Basis EPS of $1.43 and ROE of 12.1%, on Revenue of $2.5 Billion; Full-Year 2016 GAAP-Basis EPS of $4.97 and ROE of 10.5%, on Revenue of $10.2 Billion
January 25, 2017 7:00 AM ESTOn an operating-basis, fourth-quarter 2016 EPS was $1.48 and ROE of 12.5%, on revenue of $2.7 billion; Full-year 2016 operating-basis EPS was $5.27 and ROE of 11.1%, on revenue of $10.8 billion
Two notable items during the fourth quarter of 2016 which affected both GAAP and operating-basis results, with a net benefit of $0.13 per share, were an acceleration of deferred compensation expense of $0.41 per share and an aggregate reduction of accrued tax expense of $0.54 per share, attributable to indefinitely invested foreign earnings and benefits attributable to incremental foreign tax credits and a foreign affiliate tax loss
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