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Mar 31
State Street Q1 2025 Earnings Report
State Street posted strong results with growth in revenue, earnings, and disciplined cost control.
Key Takeaways
State Street delivered a solid Q1 2025, driven by a 6% year-over-year increase in fee revenue and 49% growth in EPS. The company benefited from strong momentum across its investment servicing and management businesses, while maintaining expense discipline and capital returns.
Total revenue rose to $3.28 billion, up 5% year-over-year
EPS increased 49% year-over-year to $2.04
Fee revenue reached $2.57 billion, supported by 10% growth in management fees
AUC/A and AUM increased 6% and 9% year-over-year respectively
State Street
State Street
State Street Revenue by Segment
Revenue by Segment
Servicing Fees Revenue
CapyFin.comManagement Fees Revenue
CapyFin.comFX Trading Services Revenue
CapyFin.comSecurities Finance Revenue
CapyFin.comSoftware & Processing Revenue
CapyFin.comLending & Other Fees Revenue
CapyFin.com Forward Guidance
State Street remains confident in its strategy and expects continued growth, despite a complex macroeconomic landscape.
Positive Outlook
- Continued fee revenue growth across business lines
- Solid capital position with CET1 at 11.0%
- New business wins of $182B AUC/A to be installed
- Ongoing tech investments driving software ARR up ~15%
- ETF inflows and market share gains in U.S. low-cost suite
Challenges Ahead
- Macroeconomic uncertainty from geopolitics and regulation
- Deposit mix shift affecting net interest income
- Lower FX and market-related adjustments impacting other fee revenue
- On-premises software renewals declined, impacting CRD
- Expense growth pressure from tech and sub-custody costs