State Street Third Quarter 2024 Earnings: Beats Expectations

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).

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.

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