State Street Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/17 10:09

State Street (NYSE:STT) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$3.23b (up 20% from 3Q 2023).
  • Net income: US$682.0m (up 71% from 3Q 2023).
  • Profit margin: 21% (up from 15% in 3Q 2023). The increase in margin was driven by higher revenue.
  • EPS: US$2.29 (up from US$1.27 in 3Q 2023).
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NYSE:STT Earnings and Revenue Growth October 17th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

State Street Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%.

Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Capital Markets industry in the US.

Performance of the American Capital Markets industry.

The company's shares are up 4.0% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with State Street.