State Street Reports Second-Quarter 2019 EPS of $1.42 Per Share; $1.45 Per Share Excluding Notable Items(a)

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Go back to State Street Reports Second-Quarter 2019 EPS of $1.42 Per Share; $1.45 Per Share Excluding Notable Items(a)

UPDATE: State Street (STT) Tops Q2 EPS by 6c, Revenues Beat; Boosts Expense Savings Program Target to $400M

July 19, 2019 7:31 AM EDT

(Updated - July 19, 2019 7:32 AM EDT)

State Street (NYSE: STT) reported Q2 EPS of $1.45, $0.06 better than the analyst estimate of $1.39. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $2.87 billion.

EXPENSE SAVINGS PROGRAM TARGET INCREASED TO $400 MILLION, EXCEEDING INITIAL COST-SAVINGS GOAL FOR 2019; $175 MILLION OF SAVINGS ALREADY REALIZED YEAR-TO-DATENEW INVESTMENT SERVICING WINS OF $390 BILLION DURING QUARTERFRONT-TO-BACK INVESTMENT SERVICING DEMAND INCREASING WITH FIRST MAJOR ANNOUNCEMENT AND STRONG PIPELINE2019 CCAR CAPITAL PLAN INCLUDED... More