State Street Corporation (NYSE:STT) reported strong third-quarter results, with earnings per share exceeding analyst expectations.
Quarterly earnings per share of $2.26 beat the analyst consensus estimate of $2.12. Quarterly sales of $3.26 billion outpaced the street view of $3.19 billion.
Total revenue rose by 21%, largely due to the impact of a notable item from the previous year. Excluding notable items, total revenue increased by 9%.
Fee revenue increased 11%, while NII increased 16%. Investment Management AUM as of quarter-end increased 29% to $4.7 trillion, reflecting higher quarter-end market levels and solid quarterly net inflows.
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