State Street Co. (State Street Co. , STT) announced first-quarter results on Friday. The main points are as follows:
Revenue: Handling fees and net interest income increased at the same time, leading to a 13% increase in total revenue to $3.02 billion, compared to the previous forecast of analysts surveyed by Thomson Reuters (Thomson Reuters) of $3 billion.
Profit: The company announced profit before the distribution of preferred stock dividends of US$661 million, compared to US$502 million for the same period last year. Earnings per share increased from $1.15 to $1.62. Analysts had previously estimated $1.59.
Stocks: Shares were not traded before the market.
Asset Management Scale (AUM): According to State Street Bank, market value added and customer growth have both increased the size of managed assets and the size of assets managed and managed on behalf of clients (AUCA). AUCA grew 12% year over year to $33.3 trillion. AUM grew 7% year over year to $2.73 trillion, but declined month-on-month.
Expenses: Driven by the appreciation of the stock market, the company's new business and more active market trading, total fee revenue increased 8% to US$2.36 billion.
By Austen Hufford; Write to Austen Hufford at Austen.Hufford@wsj.com
Copyright (c) 2018 Dow Jones Company. This article is copyrighted by Dow Jones, Inc., and may not be translated or reprinted without permission.
Revenue: Handling fees and net interest income increased at the same time, leading to a 13% increase in total revenue to $3.02 billion, compared to the previous forecast of analysts surveyed by Thomson Reuters (Thomson Reuters) of $3 billion.
Profit: The company announced profit before the distribution of preferred stock dividends of US$661 million, compared to US$502 million for the same period last year. Earnings per share increased from $1.15 to $1.62. Analysts had previously estimated $1.59.
Stocks: Shares were not traded before the market.
Asset Management Scale (AUM): According to State Street Bank, market value added and customer growth have both increased the size of managed assets and the size of assets managed and managed on behalf of clients (AUCA). AUCA grew 12% year over year to $33.3 trillion. AUM grew 7% year over year to $2.73 trillion, but declined month-on-month.
Expenses: Driven by the appreciation of the stock market, the company's new business and more active market trading, total fee revenue increased 8% to US$2.36 billion.
By Austen Hufford; Write to Austen Hufford at Austen.Hufford@wsj.com
Copyright (c) 2018 Dow Jones Company. This article is copyrighted by Dow Jones, Inc., and may not be translated or reprinted without permission.