AI English summary of an SEC filing — figures as filed
State Street STTThe company said it held AUC/A of $46.76 trillion, AUM of $4.73 trillion, consolidated total assets of $338.48 billion, consolidated total deposits of $247.43 billion and consolidated total shareholders' equity of $25.83 billion as of September 30, 2024.
Key points
AI summaryThe company said it held AUC/A of $46.76 trillion, AUM of $4.73 trillion, consolidated total assets of $338.48 billion, consolidated total deposits of $247.43 billion and consolidated total shareholders' equity of $25.83 billion as of September 30, 2024.
State Street said earnings per share (EPS) of $2.26 in Q3 2024 rose 81% from the year-earlier period, and total revenue rose 21%. The company cited the prior-year notable item as accounting for 64 percentage points of the EPS increase and 12 percentage points of the total revenue increase.
The company said total expenses in Q3 2024 rose 6% from the year-earlier period. It said higher business investments and revenue- and performance-related costs were partly offset by productivity savings, including from the joint venture consolidations in India.
The company said that as of September 30, 2024, its accounts in Russia subject to sanctions restrictions totaled about $1.4 billion (about $1.9 billion as of December 31, 2023), of which balances held with its subcustodian were $0.8 billion ($1.5 billion). The company attributed the decline in subcustodian balances to the derecognition of some cash balances and related client liabilities resulting from actions taken under its contractual arrangements.
Key figures
Quarter ended September 30, 2024
- Revenue
- $3.3B
- Net income
- $730M
- EPS
- $2.26
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis 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.
Scale as of September 30, 2024
The company said it held AUC/A of $46.76 trillion, AUM of $4.73 trillion, consolidated total assets of $338.48 billion, consolidated total deposits of $247.43 billion and consolidated total shareholders' equity of $25.83 billion as of September 30, 2024.
Source · Based on the MD&A text of the filing
Q3 EPS and Total Revenue Rise
State Street said earnings per share (EPS) of $2.26 in Q3 2024 rose 81% from the year-earlier period, and total revenue rose 21%. The company cited the prior-year notable item as accounting for 64 percentage points of the EPS increase and 12 percentage points of the total revenue increase.
Source · Based on the MD&A text of the filing
Q3 Expense Rise and Company Explanation
The company said total expenses in Q3 2024 rose 6% from the year-earlier period. It said higher business investments and revenue- and performance-related costs were partly offset by productivity savings, including from the joint venture consolidations in India.
Source · Based on the MD&A text of the filing
Cash Balances in Sanctioned Russian Accounts
The company said that as of September 30, 2024, its accounts in Russia subject to sanctions restrictions totaled about $1.4 billion (about $1.9 billion as of December 31, 2023), of which balances held with its subcustodian were $0.8 billion ($1.5 billion). The company attributed the decline in subcustodian balances to the derecognition of some cash balances and related client liabilities resulting from actions taken under its contractual arrangements.
Source · Based on the MD&A text of the filing
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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