We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Compared to Estimates, State Street Corporation (STT) Q3 Earnings: A Look at Key Metrics
Read MoreHide Full Article
For the quarter ended September 2023, State Street Corporation (STT - Free Report) reported revenue of $2.69 billion, down 9.1% over the same period last year. EPS came in at $1.93, compared to $1.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.92 billion, representing a surprise of -7.71%. The company delivered an EPS surprise of +9.04%, with the consensus EPS estimate being $1.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how State Street Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin - FTE basis: 1.1% versus 1% estimated by five analysts on average.
Average balance - Total interest-earning assets: $222.49 billion compared to the $228.70 billion average estimate based on four analysts.
Tier 1 Risk-based Capital Ratio (Standard): 12.7% versus 13.4% estimated by four analysts on average.
Tier 1 Leverage Ratio: 5.8% compared to the 5.5% average estimate based on four analysts.
Assets under Management (AUM): $3,687 billion compared to the $3,749.96 billion average estimate based on three analysts.
Total Risk-based Capital Ratio (Standard): 14% versus the two-analyst average estimate of 14.6%.
Assets under Custody and/or Administration (AUC/A): $40,017 billion compared to the $33,869.7 billion average estimate based on two analysts.
Total fee revenue: $2.36 billion versus $2.25 billion estimated by five analysts on average.
Net Interest Income - fully taxable-equivalent basis: $626 million versus the five-analyst average estimate of $600.78 million.
Net Interest Income: $624 million versus the five-analyst average estimate of $600.49 million.
Software and processing fees: $188 million versus $206.41 million estimated by four analysts on average.
Other fee revenue: $44 million versus $32.79 million estimated by four analysts on average.
Shares of State Street Corporation have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Compared to Estimates, State Street Corporation (STT) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, State Street Corporation (STT - Free Report) reported revenue of $2.69 billion, down 9.1% over the same period last year. EPS came in at $1.93, compared to $1.82 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.92 billion, representing a surprise of -7.71%. The company delivered an EPS surprise of +9.04%, with the consensus EPS estimate being $1.77.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how State Street Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin - FTE basis: 1.1% versus 1% estimated by five analysts on average.
- Average balance - Total interest-earning assets: $222.49 billion compared to the $228.70 billion average estimate based on four analysts.
- Tier 1 Risk-based Capital Ratio (Standard): 12.7% versus 13.4% estimated by four analysts on average.
- Tier 1 Leverage Ratio: 5.8% compared to the 5.5% average estimate based on four analysts.
- Assets under Management (AUM): $3,687 billion compared to the $3,749.96 billion average estimate based on three analysts.
- Total Risk-based Capital Ratio (Standard): 14% versus the two-analyst average estimate of 14.6%.
- Assets under Custody and/or Administration (AUC/A): $40,017 billion compared to the $33,869.7 billion average estimate based on two analysts.
- Total fee revenue: $2.36 billion versus $2.25 billion estimated by five analysts on average.
- Net Interest Income - fully taxable-equivalent basis: $626 million versus the five-analyst average estimate of $600.78 million.
- Net Interest Income: $624 million versus the five-analyst average estimate of $600.49 million.
- Software and processing fees: $188 million versus $206.41 million estimated by four analysts on average.
- Other fee revenue: $44 million versus $32.79 million estimated by four analysts on average.
View all Key Company Metrics for State Street Corporation here>>>Shares of State Street Corporation have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.