State Street said its earnings per share (EPS) for Q2 2024 were $2.15, down 1% from the same period a year earlier, and its total revenue rose 3% from a year earlier. The company cited higher net interest income (NII) and fee revenue as the factors behind the revenue increase.

1. 01

   State Street said its earnings per share (EPS) for Q2 2024 were $2.15, down 1% from the same period a year earlier, and its total revenue rose 3% from a year earlier. The company cited higher net interest income (NII) and fee revenue as the factors behind the revenue increase.

2. 02

   The company said its total expenses for Q2 2024 rose 3% from the same period a year earlier. It said ongoing business investments and revenue-related costs were partially offset by productivity savings. Operating leverage was 0.02 percentage points.

3. 03

   State Street said its pre-tax margin for Q2 2024 was 28.6%, down from 29.5% in the same period a year earlier, and its return on equity was 11.9%, down from 13.0% a year earlier. The company cited higher total expenses and provision for credit losses as factors behind the lower pre-tax margin, and a decrease in net income available to common shareholders as the factor behind the lower return on equity.

4. 04

   As of June 30, 2024, State Street said it had AUC/A of $44.31 trillion, AUM of $4.37 trillion, consolidated total assets of $325.60 billion, consolidated total deposits of $239.16 billion, consolidated total shareholders' equity of $24.76 billion, and approximately 53,000 employees.

Key figures

Quarter ended June 30, 2024

Revenue

$3.2B

Net income

$711M

EPS

$2.15

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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.