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Compared to Estimates, State Street (STT) Q1 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, State Street (STT) Q1 Earnings: A Look at Key Metrics
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.