AI English summary of an SEC filing — figures as filed
State Street STTThe company said diluted EPS for Q1 2024 was $1.37 ($0.55 in the prior quarter and $1.52 a year earlier), and net income was $463 million. It said EPS excluding notable items was $1.69.
Key points
AI summaryThe company said diluted EPS for Q1 2024 was $1.37 ($0.55 in the prior quarter and $1.52 a year earlier), and net income was $463 million. It said EPS excluding notable items was $1.69.
The company said total fee revenue for Q1 was $2,422 million, up 4% from a year earlier, with management fees up 12% and Front office software and data up 32%. Net interest income was $716 million, down 7%.
State Street said total expenses for Q1 were $2,513 million, up 6% from a year earlier, and cited a $130 million notable item reflecting the increased FDIC special assessment as the main driver. Excluding notable items, total expenses rose 1%.
The company said AUC/A as of Q1 was $43.9 trillion and AUM was $4.3 trillion, and that new servicing AUC/A wins in Q1 were $474 billion. It said it returned a total of $308 million of capital to common shareholders in the same quarter.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
Q1 EPS $1.37, $1.69 excluding notable items
The company said diluted EPS for Q1 2024 was $1.37 ($0.55 in the prior quarter and $1.52 a year earlier), and net income was $463 million. It said EPS excluding notable items was $1.69.
Source · Based on the filing body and exhibits
Total fee revenue up 4%, $2,422 million
The company said total fee revenue for Q1 was $2,422 million, up 4% from a year earlier, with management fees up 12% and Front office software and data up 32%. Net interest income was $716 million, down 7%.
Source · Based on the filing body and exhibits
FDIC special assessment of $130 million drives higher total expenses
State Street said total expenses for Q1 were $2,513 million, up 6% from a year earlier, and cited a $130 million notable item reflecting the increased FDIC special assessment as the main driver. Excluding notable items, total expenses rose 1%.
Source · Based on the filing body and exhibits
AUC/A $43.9 trillion, new servicing AUC/A wins $474 billion
The company said AUC/A as of Q1 was $43.9 trillion and AUM was $4.3 trillion, and that new servicing AUC/A wins in Q1 were $474 billion. It said it returned a total of $308 million of capital to common shareholders in the same quarter.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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