Earnings Summary: Analyzing State Street Corporation's Q3 2023 Financial Results
Friday, 12 April 2024, 14:54
State Street Corporation Q3 2023 Earnings Report
Bank holding company State Street Corporation (NYSE: STT) has announced financial results for the first quarter of 2024, reporting a decrease in net income despite higher revenues. First-quarter revenues edged up 1% year-over-year to $3.14 billion, reflecting an increase in fee revenue.
Key Highlights
- Net Income: Net income was $463 million in Q1, down from $549 million in the previous year
- Total Expenses: Total expenses rose 6% to $2.51 billion, driven by higher salaries and investments
- Capital Return: The company returned $308 million to investors in Q1 through share repurchases and dividends
- Equity Tier-1 Ratio: The standardized common equity tier-1 ratio decreased to 11.1% in Q1 2024
The post Earnings Summary: Highlights of State Street Corporation's Q3 2023 results first appeared on AlphaStreet.
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