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

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

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

July 19, 2019 7:30 AM EDT

EXPENSE SAVINGS PROGRAM TARGET INCREASED TO $400 MILLION, EXCEEDING INITIAL COST-SAVINGS GOAL FOR 2019; $175 MILLION OF SAVINGS ALREADY REALIZED YEAR-TO-DATE

NEW INVESTMENT SERVICING WINS OF $390 BILLION DURING QUARTER

FRONT-TO-BACK INVESTMENT SERVICING DEMAND INCREASING WITH FIRST MAJOR ANNOUNCEMENT AND STRONG PIPELINE

2019 CCAR CAPITAL PLAN INCLUDED INCREASE IN QUARTERLY DIVIDEND TO $0.52 PER SHARE AND COMMON STOCK REPURCHASES OF UP TO $2 BILLION

BOSTON--(BUSINESS WIRE)-- Ron O'Hanley, President and Chief Executive Officer : "State Street is acting with urgency to adjust to a challenging... More