State Street (STT) reported earnings on Fri 18 Oct 2019 (b/o)

** charts after earnings **

 

State Street beats by $0.02, beats on revs

Reports Q3 (Sep) earnings of $1.42 per share, $0.02 better than the S&P Capital IQ Consensus of $1.40; revenues fell 2.9% year/year to $2.9 bln vs the $2.86 bln S&P Capital IQ Consensus.

Net interest income (NII) decreased 4% primarily due to lower long-end rates and MBS premium amortization, as well as mix shift away from non-interest bearing deposits.

Fee revenue decreased 3% reflecting lower servicing and management revenues, partially offset by CRD.