State Street reports $3.65 GAAP EPS and $4.05B revenue, exceeding expectations driven by 17% fee growth.
State Street posted second-quarter GAAP earnings per share of $3.65, surpassing estimates by $0.34. Revenue reached $4.05 billion, up 17.4% year-over-year and $130 million above forecasts.
Fee revenue climbed 17%, led by increases in management fees, servicing fees, and FX trading services. Excluding notable items, fee revenue rose 16%, reflecting strong demand for the firm’s services.
The results highlight State Street’s growth in asset management and servicing segments amid market expansion.