State Street Corp reports results for the quarter ended June 30 - Earnings Summary

• State Street Corp STT reported quarterly adjusted earnings of $2.53​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $2.15. The mean expectation of fourteen analysts for the quarter was for earnings of $2.35 per share. Wall Street expected results to range from $2.25 to $2.53 per share.

• Revenue rose 8.1% to $3.45 billion from a year ago; analysts expected $3.35 billion.

• State Street Corp's reported EPS for the quarter was $2.17​.

• The company reported quarterly net income of $630 million.

• State Street Corp shares had risen by 3.5% this quarter and gained 12.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.5% in the last three months.​

• In the last 30 days, nine analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is also "buy"

• Wall Street's median 12-month price target for State Street Corp is $115.00, about 4.3% above its last closing price of $110.03

This summary was machine generated from LSEG data July 15 at 12:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)