Overview

* State Street Q3 revenue grows 9% yr/yr, beating analyst expectations, per LSEG data

* EPS for Q3 rises 23% yr/yr to $2.78

* Company returns $637 mln to shareholders in Q3 via repurchases and dividends

Outlook

* Company did not provide specific financial guidance for future quarters in the press release

Result Drivers

* FEE REVENUE GROWTH - Total revenue increased 9% driven by higher fee revenue across the franchise

* INNOVATION AND PARTNERSHIPS - Co advanced Wealth Services strategy through partnership with Apex Fintech Solutions

* PRODUCT LAUNCHES - Investment Management launched 39 new products, contributing to revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $3.55 $3.45

Revenue bln bln (12

Analysts

)

Q3 EPS $2.78

Q3 Net $861 mln

Income

Q3 Net $715 mln

Interest

Income

Q3 $9 mln

Credit

Loss

Provisio

n

Q3 ROE 13.40%

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "buy"

* Wall Street's median 12-month price target for State Street Corp ( STT ) is $130.00, about 13.1% above its October 16 closing price of $112.95

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)