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State Street (STT) Reports Q2 Earnings: What Key Metrics Have to Say

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For the quarter ended June 2024, State Street Corporation (STT - Free Report) reported revenue of $3.19 billion, up 2.6% over the same period last year. EPS came in at $2.15, compared to $2.17 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.15 billion, representing a surprise of +1.36%. The company delivered an EPS surprise of +6.97%, with the consensus EPS estimate being $2.01.

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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net interest margin (FTE): 1.1% versus 1.1% estimated by five analysts on average.
  • Average balance - Total interest-earning assets: $261.74 billion versus the four-analyst average estimate of $250.50 billion.
  • Basel III Advanced Approaches - Tier 1 Leverage Ratio: 5.3% compared to the 5.3% average estimate based on four analysts.
  • Basel III Standardized Approach - Tier 1 capital ratio: 13.3% compared to the 13.1% average estimate based on three analysts.
  • Assets under Management (AUM): $4,415 billion versus $4,318.27 billion estimated by three analysts on average.
  • Basel III Standardized Approach - Total capital ratio: 15% versus 14.2% estimated by two analysts on average.
  • Assets under Custody and/or Administration (AUC/A): $44,312 billion versus the two-analyst average estimate of $37,496.93 billion.
  • Total fee revenue: $2.46 billion versus the five-analyst average estimate of $2.46 billion.
  • Net Interest Income - fully taxable-equivalent basis: $736 million versus $697.06 million estimated by five analysts on average.
  • Net Interest Income: $735 million versus $696.04 million estimated by five analysts on average.
  • Software and processing fees: $214 million versus $214.97 million estimated by four analysts on average.
  • Other fee revenue: $48 million versus $43.02 million estimated by four analysts on average.
View all Key Company Metrics for State Street here>>>

Shares of State Street have returned +10.1% over the past month versus the Zacks S&P 500 composite's +3.8% 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.

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