State Street Corporation (STT - Free Report) reported $3.11 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.3%. EPS of $2.17 for the same period compares to $1.94 a year ago.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $3.13 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +4.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how State Street Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin - FTE basis: 1.19% compared to the 1.21% average estimate based on five analysts.
- Average balance - Total interest-earning assets: $231.99 billion versus $231.49 billion estimated by four analysts on average.
- Tier 1 Leverage Ratio: 5.8% versus the four-analyst average estimate of 5.71%.
- Assets under Management (AUM): $3797 billion versus $3582.2 billion estimated by three analysts on average.
- Tier 1 Risk-based Capital Ratio (Standard): 13.6% versus the three-analyst average estimate of 13.88%.
- Assets under Custody and/or Administration (AUC/A): $39589 billion versus the three-analyst average estimate of $35021.5 billion.
- Total Risk-based Capital Ratio (Standard): 14.9% versus the two-analyst average estimate of 15.14%.
- Total fee revenue: $2.42 billion compared to the $2.43 billion average estimate based on five analysts.
- Net Interest Income: $691 million compared to the $696.69 million average estimate based on five analysts.
- Net Interest Income - fully taxable-equivalent basis: $691 million versus the five-analyst average estimate of $698.75 million.
- Other fee revenue: $58 million compared to the $60.37 million average estimate based on four analysts.
- Management fees: $461 million versus the four-analyst average estimate of $463.10 million.
View all Key Company Metrics for State Street Corporation here>>>Shares of State Street Corporation have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
State Street Corporation (STT - Free Report) reported $3.11 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.3%. EPS of $2.17 for the same period compares to $1.94 a year ago.
The reported revenue represents a surprise of -0.59% over the Zacks Consensus Estimate of $3.13 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +4.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how State Street Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin - FTE basis: 1.19% compared to the 1.21% average estimate based on five analysts.
- Average balance - Total interest-earning assets: $231.99 billion versus $231.49 billion estimated by four analysts on average.
- Tier 1 Leverage Ratio: 5.8% versus the four-analyst average estimate of 5.71%.
- Assets under Management (AUM): $3797 billion versus $3582.2 billion estimated by three analysts on average.
- Tier 1 Risk-based Capital Ratio (Standard): 13.6% versus the three-analyst average estimate of 13.88%.
- Assets under Custody and/or Administration (AUC/A): $39589 billion versus the three-analyst average estimate of $35021.5 billion.
- Total Risk-based Capital Ratio (Standard): 14.9% versus the two-analyst average estimate of 15.14%.
- Total fee revenue: $2.42 billion compared to the $2.43 billion average estimate based on five analysts.
- Net Interest Income: $691 million compared to the $696.69 million average estimate based on five analysts.
- Net Interest Income - fully taxable-equivalent basis: $691 million versus the five-analyst average estimate of $698.75 million.
- Other fee revenue: $58 million compared to the $60.37 million average estimate based on four analysts.
- Management fees: $461 million versus the four-analyst average estimate of $463.10 million.
View all Key Company Metrics for State Street Corporation here>>>Shares of State Street Corporation have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on STT - FREE