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Stock impact report

State Street's Q1 Earnings Top as Fee Income Rises Y/Y, Stock Down [Yahoo! Finance]

State Street Corporation (STT) 
Last state street corporation earnings: 4/17 07:38 am Check Earnings Report
US:NYSE Investor Relations: investors.statestreet.com
Company Research Source: Yahoo! Finance
Results were aided by growth in fee revenues and lower provisions. Also, the company witnessed improvements in total assets under custody and administration (AUC/A) and assets under management (AUM) balances. However, higher adjusted expenses and lower net interest income (NII) acted as spoilsports. Shares of STT lost roughly 3% in pre-market trading in light of these negatives. Net income available to common shareholders was $644 million, up 39.1% from the year-ago quarter. Our projection for the metric was $569.9 million. Total quarterly revenues of $3.28 billion increased 4.7% year over year. However, the top line missed the Zacks Consensus Estimate of $3.30 billion. NII was $714 million, down marginally year over year. The fall was due to lower average short-end rates and a deposit mix shift, partially offset by higher investment securities yields and loan growth. Our estimate for the metric was $717.6 million. The net interest margin (NIM) contracted 13 basis points year Show less Read more
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