State Street raised its full-year outlook after reporting 17% revenue growth and record fee and net interest income in Q2 2026.
State Street reported second-quarter 2026 earnings per share of $3.65, up from $2.17 a year earlier, as revenue rose 17% to a record $4 billion. The results were driven by record fee revenue and net interest income, alongside strong performance in servicing, investment management, and markets.
The company raised its full-year guidance, now expecting fee revenue growth of 12% to 13% and net interest income growth of 14% to 15%. It also increased expense projections but maintained expectations for 500 basis points of positive operating leverage and a pre-tax margin near 32%.
State Street set medium-term targets, including a 35% pre-tax margin and mid-20s return on tangible common equity. Executives cited growth opportunities in core businesses, alternatives, digital assets, and wealth services, supported by a technology and AI-driven transformation.