Northern Trust Q3 2022 Earnings Report
Key Takeaways
Northern Trust reported third quarter net income of $394.8 million, with earnings per diluted common share of $1.80. Total revenue increased by 7% year-over-year, driven by the elimination of money market fee waivers and higher interest rates, offsetting market and currency-related declines in trust fees. Expenses rose by 9% due to increased headcount and inflationary pressures.
Net income was $394.8 million, consistent with the prior year.
Earnings per diluted common share were $1.80, matching the third quarter of 2021.
Total revenue grew 7% year-over-year, driven by higher net interest income.
Expenses increased 9% due to higher head count and inflationary cost pressures.
Northern Trust
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Northern Trust Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in the provided text.