State Street Corporation (NYSE:STT) outlined its third quarter earnings results on Friday 16th October 2020 before market open.
The financial products and services provider, reported $ 1.45 income per share for the quarter.
On adjusted basis, State Street Corporation reported income for the quarter of $ 1.45 per share, beat the consensus estimate of $ 1.41 income per share by $ 0.04 or 2.84 percent.
The quarterly earnings increased 2.11 percent compared with the same quarter last year.
State Street Corporation had revenue of $ 2,784.00 million for the quarter, compared to the consensus estimate of $ 2768.37 million. The revenues outshined analysts estimates by $ 15.63 million or 0.56 percent.
The financial report showed revenues declined 4.10 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Ron O Hanley, Chairman and Chief Executive Officer, commented, These results reflect year-over-year growth in nearly all fee revenue lines and continued advancement of our strategy amid a difficult and complex operating
environment. Despite the challenges, we achieved strong new business wins, maintained pricing discipline, and
saw continued demand for Charles River Development and State Street Alpha, our front-to-back servicing
platform, including the signing of a large new client.
