Northern Trust Q2 net income $896M, EPS $4.34, boosted by $878M Visa gain; trust fees up 6% YoY

NORTHERN TRUST CORP

2024-Q2 EPS reported $5.28 revenue$2,309,000,000

Diluted EPS of $4.34 vs. $0.96 in Q1 2024 and $1.56 in Q2 2023; net income $896.1M.
Includes $878.4M pre-tax net gain from Visa transaction and $196.3M in restructuring charges and notable items.
Trust, investment and other servicing fees rose 6% YoY to $1.166B; net interest income (FTE) $529.8M.
CET1 ratio (standardized) improved to 12.6% from 11.4% in Q1; dividend unchanged at $0.75/share.
Assets under custody/administration reached $16.57T, up 14% YoY.

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