earnings
confidence high
sentiment positive
materiality 0.70
State Street Q1 GAAP EPS $1.37, $1.69 ex-items; fee revenue up 4% YoY
STATE STREET CORP
2024-Q1 EPS reported
$1.37
revenue$3,138,000,000
- Diluted GAAP EPS of $1.37; adjusted EPS of $1.69 after excluding $0.32 per share from FDIC special assessment.
- Total revenue $3.14B (+1% YoY) with fee revenue up 4% to $2.42B; management fees +12%, front office software and data +32%.
- Record AUC/A of $43.9T (+17% YoY) and record AUM of $4.3T (+20% YoY); new servicing AUC/A wins of $474B.
- Net interest income $716M (-7% YoY) on deposit mix shift; provision for credit losses $27M (-39% YoY).
- Returned $308M to common shareholders ($100M buybacks + $0.69/sh dividend); CET1 ratio 11.1% vs 12.1% a year ago.