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Northern Trust (NTRS) Q2 Earnings Beat on High Revenue

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Have you been eager to see how Northern Trust Corporation (NTRS - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this IL-based popular bank’s earnings release this morning:

An Earnings Beat

Northern Trust came out with earnings per share of $1.06, beating the Zacks Consensus Estimate of $1.05. Elevated revenues were primarily responsible for this earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Northern Trust depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.

Moreover, Northern Trust has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 4.82% in the trailing four quarters.
 

NORTHERN TRUST Price and EPS Surprise

NORTHERN TRUST Price and EPS Surprise | NORTHERN TRUST Quote

Revenue Came In Higher Than Expected    

Northern Trust posted revenues of $1.32 billion, which outpaced the Zacks Consensus Estimate of $1.22 billion. Moreover, it compared favorably with the year-ago number of $1.26 billion.

Key Stats to Note:

 

  • Total revenue jumped 5% year over year
  • Northern Trust’s results reflect a continued focus on serving evolving needs of its customers, while enhancing profitability and returns to its investors. The company returned $140.8 million in capital to its shareholders in the second quarter.
  • Total assets under custody increased 3% year over year while total assets under management declined 4%.

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) for Northern Trust. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this Northern Trust earnings report!

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