Northern Trust Corporation (NASDAQ: NTRS) on Wednesday reported a sharp increase in revenue and profit for the second quarter of 2024.
- Earnings, on a per-share basis, more than doubled to $4.34 in the June quarter from $1.56 in the comparable period of 2023
- Net income rose sharply to $896.1 million in the second quarter from $331.8 million a year earlier
- Total revenue moved up to $2.72 billion during the three months from $1.77 billion in the year-ago period
- At $528.9 million, Q2 net interest income was higher than $524.6 million reported in the prior-year quarter
- Return on average common equity was 31.2% in the June quarter, vs. 12.4% in Q2 2023
- Second-quarter return on average assets surged to 2.44% from 0.91% in the year-ago period
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