Categories Earnings, Finance

Earnings Summary: A snapshot of State Street Corporation’s Q2 2023 results

Bank holding company State Street Corporation (NYSE: STT) has announced financial results for the second quarter of 2023, reporting an increase in net income and revenues.

  • Second-quarter revenues increased by 5% year-over-year to $3.11 billion, reflecting higher net interest income and fee revenue
  • Net income was $763 million or $2.17 per share in the three-month period, compared to $747 million or $1.91 per share in the same quarter of last year
  • Total expenses increased 5% to $2.21 billion, mainly due to higher salaries, headcount, and business investments
  • The company returned around $1.3 billion of capital in Q2, consisting of $1.05 billion of share repurchases and $203 million of dividends
  • State Street announced its plan to increase the common stock dividend by 10% for the third consecutive year
  • The company will continue the execution of its share repurchase authorization of up to $4.5 billion during 2023


Stocks you may like:

Bank of America (BAC) Stock

Wells Fargo (WFC) Stock

JPMorgan Chase (JPM) Stock

Citigroup (C) Stock

Goldman Sachs (GS) Stock

Morgan Stanley (MS) Stock


Most Popular

Infographic: How Spotify (SPOT) performed in Q2 2024

Spotify Technology S.A. (NYSE: SPOT) reported its second quarter 2024 earnings results today. Total revenue increased 20% year-over-year to EUR3.8 billion. Net income attributable to owners of the parent was

Philip Morris (PM) Q2 2024 Earnings: Key financials and quarterly highlights

Philip Morris International Inc. (NYSE: PM) reported its second quarter 2024 earnings results today. Net revenues increased 5.6% year-over-year to $9.5 billion. On an organic basis, revenues grew 9.6%. Net

LMT Earnings: Highlights of Lockheed Martin’s Q2 2024 financial results

Lockheed Martin Corporation (NYSE: LMT) Tuesday reported a year-over-year increase in net sales for the second quarter of 2024. The management raised its fiscal 2024 guidance. The aerospace company reported

Add Comment
Viewing Highlight