State Street Beat Earnings Estimate, Missed Revenue Estimate
EPS and revenue
State Street (STT) posted EPS (earnings per share) of $1.67 in 2Q17, thus beating analysts’ estimate of $1.57. That’s a 14.0% rise on a YoY (year-over-year) basis, mainly due to a strong performance in the global equity markets. It reported revenues of $2.8 billion, which reflects a rise of 9.3% YoY.
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State Street’s AUCA (assets under custody and administration) for the quarter was $31.0 trillion, which is a 12.0% rise YoY. The rise was mainly due to new business activities and market appreciation. The company’s AUM (assets under management) has risen 13% YoY, from $2.6 trillion in 2Q16.