State Street Q3 GAAP EPS $1.25; adjusted $1.93; total revenue down 9% on portfolio repositioning

STATE STREET CORP

2023-Q3 EPS reported $4.97 revenue$8,902,000,000

GAAP net income $422M, EPS $1.25 (down 31% YoY); excluding notable items, EPS $1.93.
Total fee revenue up 3% YoY to $2.36B, driven by servicing fees and asset management.
Record quarterly cash net inflows of $41B at Global Advisors; AUC/A up 12% to $40T.
Portfolio repositioning loss of $294M ($0.68 per share after tax) to benefit NII in future periods.
Returned $1.2B to shareholders via buybacks and dividends; CET1 ratio 11.0%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

STATE STREET CORP reported third-quarter of 2023 results: revenue $2,691, net income $422, EPS $1.25.

Period: third-quarter of 2023
Revenue: $2,691
Net income: $422
EPS: $1.25
Result: reported results

Exact text from the filing

2Q23 3Q22 % QoQ % YoY Income statement: Total fee revenue $ 2,361 $ 2,419 $ 2,299 (2) % 3 % Net interest income 624 691 660 (10) (5) Other income (294) — — nm nm Total revenue 2,691 3,110 2,959 (13) (9) Provision for credit losses — (18) — nm nm Total expenses 2,180 2,212 2,110 (1) 3 Net income 422 763 690 (45) (39) Financial ratios and other metrics: Diluted

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Source: SEC EDGAR

accession 0000093751-23-000690

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