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Key Takeaways from State Street's 3Q17 Earnings

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Part 8
Key Takeaways from State Street's 3Q17 Earnings PART 8 OF 8

State Street’s Earnings Rose, Beating Estimates

Beating analysts’ estimates

In 3Q17, State Street (STT) posted EPS (earnings per share) that was higher than Wall Street analysts’ estimates. Its EPS was $1.71 in 3Q17, while analysts were expecting $1.62. That represents a YoY rise of 27% due to a favorable momentum in its business and equity markets.

State Street&#8217;s Earnings Rose, Beating Estimates

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State Street has a return on equity of 10.3% on a trailing 12-month (or TTM) basis. Its peers (XLF) the Bank of New York Mellon (BK), JPMorgan Chase (JPM), and GAIN Capital Holdings (GCAP) have returns on equity of 9.5%, 10.5%, and 4.1%, respectively, on a TTM basis.

In 3Q17, State Street reported revenue that was higher than analysts’ expectations. Its revenues in 3Q17 were $2 billion, while Wall Street analysts expected $2.9 billion.

Total fee revenues

State Street saw a rise in its assets under custody and administration (or AUCA) in 3Q17 compared to 3Q16. In 3Q17, its AUCA was $32.1 trillion, reflecting a 10% YoY (year-over-year) rise, mainly due to favorable markets.

However, in Europe, the Middle East, and Africa (or EMEA), new business and the company’s ETFs saw significant flows, which jointly contributed to the majority of the rise in AUCA.

State Street reported total fee revenues of $2.3 billion in 3Q17 compared to $2.2 billion in 3Q16, which reflects a YoY rise of 5%.

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