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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.
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 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