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Jun 30, 2024
State Street Q2 2024 Earnings Report
State Street's financial performance was encouraging in the second quarter of 2024, marked by revenue growth and well-controlled expenses.
Key Takeaways
State Street reported Q2 2024 EPS of $2.15. The company saw a 3% increase in total revenue driven by net interest income and fee revenue growth. They also reported record AUC/A of $44.3 trillion and AUM of $4.4 trillion.
Total revenue increased by 3%, driven by net interest income growth of 6% and fee revenue growth of 2%.
Management fees increased by 11% year-over-year.
The company achieved positive operating leverage, with a pre-tax margin of 28.6% and an ROE of 11.9%.
State Street plans a 10% increase to its quarterly common stock dividend.
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
No specific forward guidance was provided in the press release. The release focused on Q2 2024 results and strategic initiatives.
Revenue & Expenses
Visualization of income flow from segment revenue to net income