State Street Corporation (STT - Free Report) reported $3.14 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.2%. EPS of $1.69 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of +2.54% over the Zacks Consensus Estimate of $3.06 billion. With the consensus EPS estimate being $1.48, the EPS surprise was +14.19%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how State Street performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin (FTE): 1.1% versus 1.2% estimated by five analysts on average.
- Average balance - Total interest-earning assets: $254.33 billion compared to the $232.96 billion average estimate based on four analysts.
- Basel III Advanced Approaches - Tier 1 Leverage Ratio: 5.4% versus the four-analyst average estimate of 5.4%.
- Basel III Standardized Approach - Tier 1 capital ratio: 13.8% compared to the 12.8% average estimate based on three analysts.
- Assets under Management (AUM): $4,336 billion compared to the $4,267.34 billion average estimate based on three analysts.
- Basel III Standardized Approach - Total capital ratio: 14.9% compared to the 13.9% average estimate based on two analysts.
- Assets under Custody and/or Administration (AUC/A): $43,912 billion versus $36,298.53 billion estimated by two analysts on average.
- Net Interest Income: $716 million compared to the $667.49 million average estimate based on five analysts.
- Total fee revenue: $2.42 billion versus $2.45 billion estimated by five analysts on average.
- Net Interest Income - fully taxable-equivalent basis: $717 million versus the five-analyst average estimate of $668.54 million.
- Software and processing fees: $207 million versus the four-analyst average estimate of $205.62 million.
- Other fee revenue: $50 million compared to the $37.81 million average estimate based on four analysts.
View all Key Company Metrics for State Street here>>>Shares of State Street have returned +2.9% over the past month versus the Zacks S&P 500 composite's +1.6% 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.
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No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
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State Street Corporation (STT - Free Report) reported $3.14 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.2%. EPS of $1.69 for the same period compares to $1.52 a year ago.
The reported revenue represents a surprise of +2.54% over the Zacks Consensus Estimate of $3.06 billion. With the consensus EPS estimate being $1.48, the EPS surprise was +14.19%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how State Street performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin (FTE): 1.1% versus 1.2% estimated by five analysts on average.
- Average balance - Total interest-earning assets: $254.33 billion compared to the $232.96 billion average estimate based on four analysts.
- Basel III Advanced Approaches - Tier 1 Leverage Ratio: 5.4% versus the four-analyst average estimate of 5.4%.
- Basel III Standardized Approach - Tier 1 capital ratio: 13.8% compared to the 12.8% average estimate based on three analysts.
- Assets under Management (AUM): $4,336 billion compared to the $4,267.34 billion average estimate based on three analysts.
- Basel III Standardized Approach - Total capital ratio: 14.9% compared to the 13.9% average estimate based on two analysts.
- Assets under Custody and/or Administration (AUC/A): $43,912 billion versus $36,298.53 billion estimated by two analysts on average.
- Net Interest Income: $716 million compared to the $667.49 million average estimate based on five analysts.
- Total fee revenue: $2.42 billion versus $2.45 billion estimated by five analysts on average.
- Net Interest Income - fully taxable-equivalent basis: $717 million versus the five-analyst average estimate of $668.54 million.
- Software and processing fees: $207 million versus the four-analyst average estimate of $205.62 million.
- Other fee revenue: $50 million compared to the $37.81 million average estimate based on four analysts.
View all Key Company Metrics for State Street here>>>Shares of State Street have returned +2.9% over the past month versus the Zacks S&P 500 composite's +1.6% 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.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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