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Jun 30, 2023
State Street Q2 2023 Earnings Report
State Street's Q2 2023 performance reflected a strong business model with EPS of $2.17, driven by net interest income growth and expansion in front office solutions.
Key Takeaways
State Street reported a 5% increase in total revenue, driven by 18% growth in net interest income and strong flows in asset management. The company's EPS reached $2.17, and it returned $1.3 billion to shareholders through share repurchases and dividends.
Total revenue increased by 5% year-over-year, driven by net interest income growth of 18%.
EPS reached $2.17, reflecting improved profitability.
Investment Servicing AUC/A increased by 4% to $39.6 trillion, driven by higher equity market levels and client flows.
Investment Management AUM increased by 9% to $3.8 trillion, primarily due to higher market levels.
Revenue by Segment
Forward Guidance
State Street plans to increase its per share common stock dividend by 10% and execute on its common share repurchase authorization of up to $4.5 billion during 2023, subject to market conditions and other factors.
Positive Outlook
- Continue to execute on common share repurchase authorization of up to $4.5 billion during 2023
- Increase per share common stock dividend by 10%
- Strong balance sheet
- Strong capital generation
- Strong servicing wins
Challenges Ahead
- Subject to market conditions
- Subject to other factors
- Lower client FX volumes
- Lower FX volatility
- Below average pricing headwinds
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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